Virginia LLC Operating Agreement

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How to form an LLC in Virginia
This Quick Start Guide is a brief overview of how to form an LLC in Virginia.

Detailed Lessons:

4. Operating Agreement ← you are here
5. EIN Number
6. Annual Fee

 

Virginia LLC Costs:
Virginia LLC cost: $100
Virginia LLC annual fee: $50

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LLC Operating Agreement (template + instructions)

Free Virginia LLC Operating Agreement

Both links below are to the same document. The 1st is a Word document. The 2nd is a PDF.

Operating Agreement (Word)

Operating Agreement (PDF)

Next Step

After you’ve completed and signed your LLC’s Operating Agreement, you can proceed to the next lesson: Virginia LLC Tax ID Number (EIN).

Matt Horwitz


Matt Horwitz
Founder & Educator, LLC University®
Matt Horwitz has been the leading expert on LLC education for the past decade. He founded LLC University in 2010 after realizing people needed simple and actionable instructions to start an LLC that other companies weren't offering. He's cited by Entrepreneur Magazine, Yahoo Finance, and the US Chamber of Commerce, and was featured by CNBC and InventRight.
 
Matt holds a Bachelor's Degree in business from Drexel University with a concentration in business law. He performs extensive research and analysis to convert state laws into simple instructions anyone can follow to form their LLC - all for free! Read more about Matt Horwitz and LLC University.

10 comments on “Virginia Operating Agreement”

Disclaimer: Nothing on this page shall be interpreted as legal or tax advice. Rules and regulations vary by location. They also change over time and are specific to your situation. Furthermore, this comment section is provided so people can share their thoughts and experience. Please consult a licensed professional if you have legal or tax questions.

  1. If this is a one-person LLC, at the end wouldn’t I put “manager” behind my name instead of “member.”. This part confused me.

  2. Hi Matt,

    do you have sample operating agreements for rental property investors in Virginia? Specifically, I am looking for a operating agreement for a single-membmer LLC to buy real estate, rehab, rent and then refinance the same. Please advise. I would appreciate if you could share some operating agreements. Thank you.

    Best,
    Kevin

    • Hi Kevin, we have a sample Operating Agreement on this page, but that is the only one we provide. Hope that helps.

  3. Hello duration of LLC can that be indefinite or do we need to put specific time period

    • Hi Corie, most people choose for their LLC to have a “perpetual” duration. This means the LLC remains open until the LLC Member(s) decide to close the LLC by filing Articles of Cancellation. You can also select for your LLC to automatically close (aka dissolve) on a specific date in the future, but for most people, this doesn’t make much sense. Hope that helps.

  4. What is the process of buying a business in Virginia?
    What do i need to make sure is done?

    • Hi Ian, we don’t cover purchasing a business on our site. We recommend working with an attorney to document the sale properly and amend the Operating Agreement (assuming you’re buying an LLC). You’ll also need to update the bank, the IRS, and the Virginia Department of Taxation. Also, you don’t have to purchase an LLC (entity sale). You can also look into an asset sale (and look at the pros and cons); buying the assets and the business that is owned by an LLC.

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How to form a US LLC

Non-US residents: If you want to form an LLC in the US, we recommend hiring doola.

doola specializes in forming US LLCs for international entrepreneurs.

They'll form your LLC, open your business bank account, and help with taxes. doola also has excellent customer service.

Hope that helps!

Matt Horwitz founder of LLC University
Matt Horwitz
Founder & Educator
LLC University®