After forming a corporation, you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability a corporation provides its owners. This guide outlines the ongoing requirements for West Virginia corporations.
West Virginia corporations must keep complete corporate records at the principal office.
Corporate taxes and fees
The following are taxation requirements and ongoing fees for West Virginia corporations:
- Annual report and franchise tax. West Virginia requires corporations to file both an annual report and franchise tax. The annual report is due July 1, and has a filing fee of $25. The franchise tax is due on or before the 15th day of the fourth month after the close of the taxable year. The fee varies.
- Taxes. For complete details on state taxes for West Virginia corporations, visit Business Owner's Toolkit or the State of West Virginia.
- Federal tax identification number (EIN). An EIN is required for corporations that will have employees. Additionally, most banks require an EIN in order to open a business bank account.
- State tax identification number. West Virginia does not require a state tax identification number.
Business licenses and/or permits are required for most businesses. The BizFilings Business License Application Package can help you stay on top of these requirements.
S corporation election
West Virginia recognizes the federal S corporation election and does not require a state-level S corporation election.
Additional West Virginia information
View the following additional resources BizFilings has for forming and maintaining companies in West Virginia:
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