A tax ID number must be obtained, and your LLC must be registered, before you may begin doing business in West Virginia. This post will cover how to register your LLC, obtain a copy of your articles of incorporation, obtain a WV tax ID number, and address some frequently asked issues regarding LLCs in West Virginia.
How to Obtain a WV Tax Identification Number
An Employer Identification Number (EIN), commonly referred to as a tax ID number, is a special identification code that the IRS issues to your company. To open a business bank account, submit taxes, and recruit staff, you will require an EIN.
You can submit an online application via the IRS website to obtain a WV tax ID number. The application is free and only needs to be filled out briefly. As an alternative, you can apply by completing Form SS-4 and sending it to the IRS via mail or fax.
The legal documents that form your LLC as a distinct legal entity from its owners are called your articles of incorporation. In order to register your LLC with the state, you will require a copy of these papers.
You can ask the Secretary of State’s office for a copy of your articles of incorporation in West Virginia. The request can be submitted online, by mail, or in person. You must pay $10 to obtain a copy of your articles of incorporation.
What is the price of an LLC in West Virginia? The filing fee and any additional expenses for services like expedited processing are included in the price of incorporating an LLC in West Virginia. In West Virginia, an LLC must pay a $100 filing fee as of 2021. Depending on the level of service you require, there is an extra charge of $25 or $75 for expedited processing.
Depending on your company’s demands, you should decide whether to set up an LLC or run a sole proprietorship. An LLC offers its owners liability protection, ensuring that their private assets are safeguarded in the event of legal action or financial obligations. A sole proprietorship provides no such safeguards and the owner is individually responsible for all debts and obligations incurred by the business.
The filing fee and any additional fees for expedited processing are included in the price of registering an LLC in West Virginia. The $100 filing cost for an LLC in West Virginia was previously reported. Depending on the level of service you require, there is an extra charge of $25 or $75 for expedited processing.
Finally, in order to form an LLC in West Virginia, you must get a tax identification number, a copy of your articles of incorporation, and register your LLC with the state. Although there are expenses involved in taking these actions, the advantages of liability protection and establishing your company as a legal entity make it worthwhile.