West Virginia law states that you should place one of the following words or abbreviations after your business name: Limited Liability Company, Limited Company, L.L.C., L.C., LLC or LC. Your chosen business name should be available and no duplicates should exist before the West Virginia Secretary of State.
To check for business name availability, you can use the business name search tool.
All LLC’s in West Virginia are required to appoint and maintain a registered agent to receive service of process notices.
You agent can be an individual or an entity authorized to do business in the state and who willingly accepts the responsibility of accepting legal papers on your business’s behalf. Your West Virginia Registered Agent must have a street address in the state.
To incorporate your businesses legally, you need to file your Articles of Organization (Form LLD-1) before the West Virginia Secretary of State. The following information must be included:
You can file your articles at the Business4wv website or through mail. Prepare a filing fee of $100.
An EIN is essential because it allows the IRS to monitor your business activities and state taxes. It is also used in a number of transactions such as in the hiring of employees, filing for income tax returns, opening a business bank account and many other.
You can get your EIN for free through online EIN application at the IRS website.
Separating your business and personal assets is important if you want to promote efficient financial management. To do this, you need to open a business bank account that you’ll use for receiving payments and checks and other forms of payment. Having a business account will also allow you to track your expenses better because transactions are recorded in real time.
Recommended Resource: Different types of business bank accounts exist. Know your needs and choose the best one for your business. You can read this roundup for more information.
Congrats on completing the incorporation of your West Virginia LLC! I’m sure it wasn’t an easy task but before you celebrate, you need to complete these additional requirements first.
To increase your chances of business success, you have to write a business plan for your West Virginia small business. By doing so, you will be able to lay out your objectives, strategies and courses of action in an organized way.
A business plan is more than just a blueprint or a fund-raising tool, it is the backbone of your business – a document that shows how viable your business is. If you want to write your business plan but you are hindered by your inexperience and lack of knowledge, use the resources below.
An LLC Operating Agreement is an integral part to your Limited Liability Company, and although it is not mandatory upon incorporation, it helps define an organization’s operations.
Primarily, an LLC outlines the members’ rights and responsibilities in the aspects of finance and management in an organization. It also safeguards the limited liability status of an LLC.
This Operating Agreement template should start you immediately on making this document for your own organization.
Keeping track of your West Virginia business finances is not a mandatory requirement. But organizing and keeping your records and documents is a must to prevent being disorganized during tax period.
Staying on top of your West Virginia business taxes is a requirement because you are obliged by the state to pay your taxes. To give you a better understanding of West Virginia business tax regulations, speak to a lawyer or a tax consultant. Check out the West Virginia State Tax Department for state specific information as well.
Recommended Resource: Xero is an established accounting software in the market. Take care of your business finances better with the use of this software.
No business can operate in West Virginia unless they obtain the necessary business licensing requirements. Business licenses are proofs that you adhere and met the standards required for businesses by West Virginia. Apply for business licenses, permits and other registrations on this site: Business4WV – Online Business Registration System.
Recommended Resource: Cities and counties have different business licensing requirements. For professional help, you can use this business research license package.
Building a business website is something that you should definitely think about if you want to reach a larger market. It allows you to reach customers from all parts of the globe and therefore, increase revenue. You also become accessible 24/7.
You can build your business website with the use of WordPress, a free tool that allows you to customize and build a website in as fast as minutes. Bluehost is another great tool that has a one-click WordPress installation and 24/7 customer support service.
Note that this guide is made for the sole purpose of giving you information on how to form a West Virginia LLC. It should not be considered a legal document or a legal advice. For further questions, consult a lawyer.