LLC in WV: Forming LLC in West Virginia comes with great flexibilities and simplicities along with increased advantages for the owners. However, new entrepreneurs still need to know what specificities are required to form LLC in WV because an LLC in West Virginia is a bit different than other states.
So, if you too are planning to from your LLC in West Virginia, then Follow the simple steps discussed below to do it the right way.
An LLC in West Virginia basically links an organization’s limited liability with the pliability and shortage of formalities. All these are offered by any sole proprietorship or an association.
We would recommend setting up an LLC in WV for any entrepreneur whose objective is to restrict liability for professional lawsuits and debts.
Not from West Virginia? Learn to form an LLC in any other State.
Tip of the Day: West Virginia LLC formation by yourself is mostly hectic and time taking. Hiring a reliable LLC formation service is not only a good choice, but saves you from overspending. Therefore we recommend you to:
Now, what is an LLC? A Limited Liability Company (LLC) unites the best of partnerships, sole ownerships, and corporations into one organizational entity providing full protection to liabilities, tax incentives or flexible business structures, etc.
It only costs almost 100 USD to initiate an LLC in West Virginia.
All you’ve to do is to submit a certificate of your new business with the State Minister. An entrepreneur can either apply online, drop a mail, or visit the office in person to build a new LLC.
In this article, we will explain the LLC formation method in West Virginia. So let’s get started!
Outlining the LLC Formation Process
- Pick a Name for Your West Virginia LLC
- Find a Registered Agent for Your LLC
- Submit the Articles of Organization
- Establish an LLC Operating Agreement
- Follow the Tax and Other Administrative Requirements
- Fulfill Your State Tax Commitments
- Submit Annual Reports
Next, we are going to discuss the steps one by one to make to clear for all of the viewers and new entrepreneurs.
#1: Pick an LLC Name
The first and foremost part of building an LLC in WV is to pick up the right company name. Try to select a name that corresponds to West Virginia standards and is conveniently accessed by prospective customers.
What Instructions Should Be Followed While Naming an LLC?
- Every business owner should include “Limited Liability Company” to his new company or the abbreviation of it, LLC.
- Avoid using the words that can mystify your LLC name with the government agencies, such as State Organizations, Treasury, FBI, etc.
- Make sure to choose a unique name from other corporations, West Virginia LLCs, or limited liability parties.
- If you want to fit in a few confined words like an attorney, bank, university, etc., it might demand hiring a licensed lawyer or doctor for additional documentation.
The next step is to verify access to your chosen name in West Virginia. Make sure if the name is still available or utilized by another entity.
You can visit West Virginia’s official state website to check on Business Registry Search. Furthermore, one can also generate a name through an LLC Name Generator online.
#2: Find a Registered Agent
Another vital step is to find a reliable Registered Agent to form an LLC in WV.
There are some limitations when choosing a registered agent in West Virginia. The person should be an West Virginia inhabitant who would be able to perform your business tasks from within the state.
You may also nominate yourself for the official documentation, but we personally recommend to go for ZenBusiness. Besides offering a free first year of their registered agent services, the company will form your West Virginia LLC only for $49 plus state filing fee.
#3 File an Articles of Organization
During the formation of an LLC in WV, it’s crucial to submit your articles of organization linked with the Secretary of its State. A general article should cover up the following:
- Name and web address of your LLC’s planner
- The official name and address of West Virginia LLC
- Details of your LLCs registered entity
- Details of your company members
- The official LLCs emails
- Entrepreneur’s signature
#4: Establish an LLC Operating Agreement
An LLC operating agreement is constitutional paperwork that sketches the rules and regulations for a new company and also outlines the entrepreneur’s operating procedures to form a new LLC in WV.
Although not necessary, creating an operating agreement will benefit a company for sure.
This legal agreement guarantees all entrepreneurs to remain on the same boat, which ultimately lessens further business clashes.
#5: Follow the Similar Tax and Other Administrative Requirements
A few extra taxes and other administrative requirements might implement to your new LLC that includes:
Employer Identification Number – It is just like a Social Security Number, so if your company has more than one employee, you can get this EIN by paying extra. This nine-digit code will check into your tax issues and assist you in creating a new bank account, hiring new staff, etc. One can submit an online form at the IRS website to get an EIN for his company.
Official Licenses – Sometimes, your new LLC in West Virginia might demand the official state licenses or other approvals, depending on the business type and its location. So, there are Economic Resource Units in West Virginia leading you to authorities to guarantee proper licensing, registration, or permissions within the state.
#6: Fulfill Your State Tax Commitments
After getting an West Virginia LLC, there are several responsibilities on a business entity that should be fulfilled. For instance, in a few cases, one has to check with the West Virginia Department of Revenue (WVDOR) for selling products or assembling sales tax, etc.
For your convenience, WVDOR has an online platform, so you can register yourself from there through Business Taxes Registration Application. For more information, you can review detailed LLC articles on our website.
#7: Responsibly Submit Annual Reports
All limited liability companies in West Virginia, after their creation, are obliged to submit their annual reports to the Secretary of State.
Concerning the LLC formation year, all entrepreneurs should file the documents from January 1 till April 1.
Moreover, the registered entities are informed a month before their deadlines. This way, they can submit it online on the official website of the Secretary of State.
If you are standing among entities wishing to form an LLC in West Virginia, follow the above guidelines and get your business started with West Virginia LLC now.
If you’re an West Virginia resident, forming a new LLC in WV will prove to be one of the best decisions, benefitting you in securing your personal assets, giving flexibility, pass-through taxation with simplicity, and much more.
Hi, Wilson here. I’m here to help small business owners and entrepreneurs form an LLC for free and affordable prices in any of the 50 States. In my opinion, Forming an LLC shouldn’t be so complicated, and I mean it. Stay with me to see how!