West Virginia LLC Operating Agreement
The West Virginia LLC Operating Agreement is the core document that is referred to when issues
concerning a West Virginia limited liability
company (“LLC”) need to be resolved.
The LLC
Operating Agreement is the most important document for your West Virginia LLC.
In the case of a single member LLC, without the formality
of an LLC Operating Agreement, the LLC can closely resemble
a sole proprietorship, which does not limit your personal
liability for business debts of the LLC.
With respect to a multi-member LLC, the LLC Operating Agreement reflects the agreement among the members with
respect to the affairs and management of the LLC and governs
the relationship amongst the members of the LLC. By having
an LLC Operating Agreement, the members will be provided
with a clear set of rules that all members have agreed upon
greatly reducing the likelihood of disagreement between
them in the future. A LLC Operating Agreement will also
greatly reduce financial and management misunderstandings,
and make sure your business is governed by your own rules
-- not default rules created by the state of West Virginia.
Need a LLC Operating Agreement for your West Virginia LLC?
www.myLLCagreement.com
will generate a customized LLC Operating agreement for your
West Virginia LLC in a matter of minutes.
Whether your LLC
will have one or more members, will be managed by its members
or by elected managers, or will be granting one or more
members an interest in the LLC for the performance of services,
myLLCagreement.com will generate a customized LLC operating
agreement tailored to the needs of your business.
If you don’t want
to spend thousands of dollars on a lawyer and don’t trust
outdated internet forms, then let myLLCagreement.com help
you create a customized LLC operating agreement for your
West Virginia LLC.
The LLC operating
agreement does not have to be filed with any state agency.
All states, including the state of West Virginia will enforce
valid operating agreements entered into among LLC members.
The operating agreement will only be enforced against the
persons who are parties to the agreement. Therefore, it
is extremely important that all members of an LLC sign the
operating agreement.
Your West
Virginia Limited Liability Company
LLC Filing Office
Secretary
of State
State Capitol Building
1900 Kanawha Blvd. East
Charleston, WV 25305-0770
Tel: 304-558-8000
www.wvsos.com/
Check Name Availability
Entity or Franchise Level Tax
West Virginia does not require partnerships,
LLCs taxable as partnerships, or disregarded single-member
LLCs to pay a general net worth tax based on net income.
However, partnerships and LLCs, regardless of entity
classification, are subject to franchise tax in West Virginia.
The tax rate is 0.7 percent or $50, whichever is
greater.
State LLC Act
The
West Virginia LLC Act is contained in Chapter 31B of the
West Virginia Code.
Important Statutory Rules
LLC Management
An
LLC is managed by its members unless the Operating Agreement
states that the LLC is to be managed by one or more managers.
Admission of Members
No statutory rules exist for admitting members to the LLC.
The Operating Agreement shall govern how LLC members
are admitted to the LLC.
Unless otherwise provided in the Operating Agreement,
the admission of a transferee as a member must be approved
by the unanimous consent of all the non-transferring members.
Amending the Operating Agreement
Unless
otherwise provided in the Operating Agreement, the Operating
Agreement can be amended with the approval of all members.
Dissolution
Unless
otherwise specified in the Operating Agreement, approval
of all members is required to make distributions prior to
the departure of a member or the winding up of the LLC,
sell all LLC assets, and voluntarily dissolve the LLC.
GET A CUSTOMIZED WEST VIRGINIA LLC OPERATING AGREEMENT
IN MINUTES
