Overview
Getting an LLC in West Virginia involves a straightforward process. Below, we’ll guide you through the essential steps and provide factual answers to common questions.
How To Get An LLC In West Virginia: Step-By-Step
- Choose a Name for Your LLC:
- Choose a unique and available name for your LLC.
- Perform a West Virginia LLC name search through the West Virginia Secretary of State website.
- Reserve your chosen name if needed.
- Appoint a Registered Agent:
- Appoint a registered agent with a physical address in West Virginia.
- File Articles of Organization:
- Complete the West Virginia LLC Articles of Organization form.
- File by mail or online through the West Virginia Secretary of State website.
- Register your Business:
- To do business in West Virginia, you need a business registration certificate from the State Tax Department.
- Operating Agreement:
- Draft an operating agreement outlining the structure and operation of your LLC. Although not required by the state, it is highly recommended.
- Employer Identification Number (EIN):
- Obtain an EIN from the IRS for tax purposes.
- File the Beneficial Ownership Information Report:
- Beginning in 2024, West Virginia LLCs must submit a Beneficial Ownership Information (BOI) Report.
1. Choose A Name For Your LLC
Check if the name you desire for your West Virginia LLC is available in the state. This is important because no two businesses in West Virginia can share the same name.
To do this, use the Secretary of State’s Business Entity Search tool to compare your business name with existing ones in West Virginia.
Make sure your LLC name is unique by following West Virginia’s naming rules to increase the chances of your LLC name being approved.
If you need, you can reserve the name for your LLC for up to 120 days. The cost is $15.
2. Appoint A Registered Agent
In West Virginia, you need to choose a registered agent for your LLC. This is the person or company allowed to get legal papers and important notices on behalf of your LLC.
Your registered agent can be a person, like yourself or one of your employees, or a company that offers this service.
The registered agent has to meet some requirements:
- If it is a company, it must offer registered agent services.
- The agent must have an address in West Virginia.
- The agent must be there in person and ready to get documents during regular business hours.
3. File West Virginia LLC Articles Of Organization
To officially establish your West Virginia LLC, you need to file the West Virginia LLC Articles of Organization.
This document provides essential details about your LLC and serves as the official registration.
To prepare the certificate, gather the following information: your LLC name, the name and address of the registered agent, the purpose of your LLC business, and provide the effective date if different from the filing date.
The form is a straightforward online submission or can be sent by mail.
The West Virginia LLC Articles of Organization filing fee is $100. For expedited processing, add $25.
Once filed, the West Virginia Secretary of State will review the document, and upon approval, your LLC attains legal business entity status.
You can undertake this process independently using our step-by-step guide or opt for the convenience of hiring a company for assistance.
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To do business in West Virginia, you need a business registration certificate from the State Tax Department. This applies to individuals and business entities engaging in revenue-generating activities.
You can apply online through the Business for West Virginia website or by filing a BUS-APP with the Tax Commissioner.
The Business Registration application fee is $30.
Each location where you conduct business needs a separate certificate. The certificate is permanent unless there are changes to the business name, location, or ownership, or it’s suspended or revoked by the Tax Commissioner. It can’t be transferred and must be surrendered if the business stops operating in West Virginia.
5. Create An Operating Agreement
An operating agreement is a document that shows how your LLC will do business.
While West Virginia doesn’t make it a must, having one is crucial. It helps in different ways, like resolving money disputes or potential legal issues. Without it, the courts decide based on state laws, not necessarily what’s best for the LLC.
The agreement can include things like the LLC’s name, address, how long it will last, the registered agent’s details, info from the articles of organization, the business’s purpose, member contributions, how profits and losses are shared, rules for new and leaving members, how the LLC is managed, and clauses about protection and responsibility.
6. Obtain Employer Identification Number (EIN)
The Internal Revenue Service (IRS) gives your LLC a nine-digit number called an Employer Identification Number (EIN) to identify it for taxes. You can get your EIN by mail or online through the IRS.
This number helps you:
- File and handle taxes at both the state and federal levels.
- Open a bank account for your business.
- Apply for permits and licenses.
- Hire employees.
Obtaining an EIN is FREE.
7. File The Beneficial Ownership Information Report
Starting in 2024, many West Virginia LLCs must now file an extra document at the federal level, known as the Beneficial Ownership Information (BOI) Report, to the Financial Crimes Enforcement Network (FinCEN).
This report mandates disclosing information about your company applicant and all beneficial owners to FinCEN. You can submit it online using the Beneficial Ownership Information E-filing System or opt for a professional service to handle it for you.
Review: What Is Needed To Form An LLC In West Virginia?
To form an LLC in West Virginia, you need:
- A unique LLC name.
- Registered Agent information.
- Articles of Organization.
- Operating Agreement (recommended).
- Employer Identification Number (EIN).
What Forms Do You Need To Get An LLC In West Virginia?
- Application to Reserve LLC Name
- Articles of Organization (online)
- Articles of Organization (PDF)
- Business Registration Application
- EIN Application Form
- BOI Form
How Much Does It Cost To Start An LLC In West Virginia?
The cost to start an LLC in West Virginia involves several steps, each with its own associated fees:
- Articles of Organization Filing Fee: $100
- Expedited processing: $25
- Name Reservation Fee (if needed): $15
- New Business Registration Fee: $30
- Annual Report Fee: $25
- Online filing: $1
What Is The West Virginia Annual Report?
West Virginia LLCs need to submit a yearly report known as the Annual Report to the state. This report ensures the government has current contact details for your business and is informed about any changes in ownership.
It is due from January 1st to July 1st each year.
The annual report fee in West Virginia is $25. The Late Penalty fee is $75.
How Long Does It Take For An LLC To Get Approved In West Virginia?
If you send your LLC application by mail, it will be approved in 5-10 business days, plus the time it takes for the mail (2-3 weeks in total).
However, if you file online, your LLC can be approved in 5-10 business days.
What Are The Benefits Of Getting An LLC In West Virginia?
- Limited liability protection for members
- Pass-through taxation
- Flexible management structure
- Credibility for business transactions
Is West Virginia A Good State To Get An LLC?
Whether West Virginia is the right state for your LLC depends on where you live and do business. If you live or operate in West Virginia, it makes sense to start your LLC there.
Getting An LLC In West Virginia: Next Steps
Once your LLC is registered, you can:
- Get the permits and licenses you need for your business, like health or zoning permits.
- Register your business with the state’s tax agency.
- Open a business bank account.
- Apply for a business credit card.
- Buy insurance for your business.
- Safeguard your name and logo with a trademark.
To maintain your LLC in West Virginia, you must:
- Update any changes to the registered agent or business address promptly.
- File an Annual Report.
- Pay Taxes (owners file their individual tax returns)
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Conclusion
Forming an LLC in West Virginia involves a few key steps, from name reservation to obtaining an EIN.
Carefully following the process ensures a smooth establishment of your LLC.
For more detailed information and to access the necessary forms, visit the West Virginia Secretary of State website.
