Preliminary information about the State of West Virginia
If you're considering starting a business in West Virginia, you're likely to be successful.
the West Virginia Economic Outlook 2018-2022 Report published by the Bureau of Business and Economic Research , the energy sector is considered a crucial driver of economic activity in the state. Key industries include natural gas and exports.
West Virginia , in West Virginia , establishing a company at the most affordable price, and the steps you need to take at this stage.
West Virginia, an application must be made to the West Virginia Secretary of State, Business and Licensing Division.
$100 is paid to the state for the installation application. Standard installation in the state is slow and takes 14 days. You can shorten the installation time by paying additional acceleration fees between $ 250 and $ 500 for acceleration.
After the installation is completed, your company formation document called Articles of Organization will be delivered to you. When you receive the document, West Virginia LLC company has been officially established.
The registered agent company, from which you will receive support during the installation phase, will provide the mentioned formation documents for the installation. Thus, you do not need to take any extra action. To form your company, you can get online service from Northwest Registered Agent by paying the 39+ State filing fee.
Costs
| Service | Price | In installation | Annual (1 per year) |
| Fee to be Paid to the State During LLC Company Formment | 100$ | ✔ | – |
| Annual Payment | 26$ | – | ✔ |
- In addition to the installation fee, do not forget to add the Northwest Agency fee of $ 39 to the cost.
- You can renew your Northwest agency fee next year for $125 (address included)
- West Virginia LLCs must submit reporting payments ($26) to the state annually
What is Registered Agent?
Agencies that provide services for entrepreneurs who do not reside in the United States to form an llc, receive official documents from the state, and ensure that the company remains healthy are called Registered Agents.
When you decide to form an LLC in Usa, Northwest is one of the best options. Northwest provides a free mailing address for your company.
There are also different agencies, you can access the full list and detailed review page of other Registered Agent companies that establish LLCs from this link .
How to Form an LLC in West Virginia?
If you do business with the Northwest agency, you do not need to pay extra for the company address because this agency has offices in all US states and allows you to use its offices as your business address. Other details are below.
You will need a registered agent for the installation, who will prepare and file the necessary documents online for you with the state.
If you do business with the Northwest agency, you do not need to pay extra for the company address because this agency has offices in all US states and allows you to use its offices as your business address. Other details are below.
- The state website may be closed to most countries for security reasons, you can use a US-based VPN or Opera Browser to access it. Choosing a Name for an LLC Company for name selection rules .
- The state website may be closed to most countries for security reasons, you can use a US-based VPN or Opera Browser to access it. Choosing a Name for an LLC Company for name selection rules .
- You can get a domain name for your company: Check if the website domain name you will create for the business name you choose has been registered before. With Namecheap you can quickly register an llc domain name so that no one else can get and use your domain name in the future.
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- Apply Online: Determine a Registered Agent to establish your company and keep it active. Northwest is among the most affordable and highest quality options. here and order them to establish your company online. Northwest will fulfill all transactions for you according to the order form in your application and will be your Registered Agent in this state
- Operating Agreement: The operating agreement, called the Operating Agreement, determines the management style and rules of the company. It is not required to be created in many states, in West Virginia . Northwest will prepare an operating agreement for you free of charge after company establishment and deliver it to you electronically. Although the state does not require it, it is recommended to create it, but you do not need to mail or electronically send this contract to the state, just keep the contract you have prepared and signed.
The approval and formment period for an LLC company is between 8 and 14 days for the state of West Virginia.
What happens after your LLC company is approved in the state of West Virginia?
- After the company is formed, your LLC formation document is delivered to you digitally by your agency.
- Once you receive the incorporation documents (digitally), obtain a Federal Identification Number (EIN) from the IRS. Without EIN, you cannot open a bank account or register for payment systems such as virtual POS (stripe) or paypal. You can also apply for an EIN yourself by filling out form SS4 and faxing it to the IRS. the Free EIN Application guide . The other option for EIN is to get a paid service. You can get EIN application service from us for $ 29. We can process it on the same day and carry out the entire process for you. the order form after company setup .
State Requirements and Taxes
Federal Taxes: All LLCs require a federal tax identification number, EIN. An EIN is basically the business version of a social security number and is used for important LLC functions. If you obtain your LLC company income from American citizens, you may be required to pay federal income tax to the state after a certain turnover.
State Requirements: In West Virginia, LLCs must file an Annual Report with the state each year, whether there is income or not. It is necessary to fulfill the Annual Report requirements in a timely manner.
Annual Report Date:
Sales Tax in West Virginia : West Virginia has a 6% state sales tax and allows local governments to collect up to 1% local option sales tax. There are a total of 149 local tax jurisdictions across the state, which collect an average local tax of 0.253%.
Combined with the state sales tax, the top sales tax rate in West Virginia is 7% in the cities of Charleston, Morgantown, Huntington, Martinsburg, and Parkersburg (and 87 other cities).
Obtaining Business Licenses and Permits
Before you can begin conducting business activities, you must register your business with the State Tax Department and obtain a sales tax license, called a business registration certificate. This is required for all local companies engaged in business activity that is considered an income-generating activity. This includes selling tangible property or providing services to others. Registration is required for every business.
In addition to the business registration certificate, you may need other licenses or permits. may be required to complete a class or training and pass an exam to obtain professional licenses to perform certain services, such as barbering, insurance, or accounting In addition to professional licensing, some industries, such as tobacco or alcohol, require special permits and licenses to market, distribute and sell products.
Annual Reporting
West Virginia requires all LLCs to file an annual report with the West Virginia Secretary of State, Division of Business and Licensing each year. The report allows the state to stay up to date on your LLC's information. The filing fee is $26.
Annual Report Date:
In West Virginia, your annual report is due between January 1 and July 1 each year. If you miss the deadline, you will have to pay a $75 penalty fee.
You can easily pay your annual report on the state website.
For more information on general taxation issues regarding LLC companies, Taxation in America .
