Opening a Company in West Virginia LLC or Corporation

Opening a company in West Virginia requires filing the Articles of Incorporation with West Virginia's Business Division.

Historically, West Virginia is a mining state and has entered a mini-recession with the shift to a green economy. Consequently, the state has created investment incentives for establishing production facilities.

The Articles of Incorporation for submission to West Virginia's Business Division must include the following as per West Virginia Business Law:

• Company name
• Legal address of the company: You can use the Registered Agent's address
• Operational address of the company: Can include ExportUSA's address if a physical address in West Virginia is not available
• Name and address of the Registered Agent and Incorporator for West Virginia
• Email address for official notifications from West Virginia's Business Division. You can use ExportUSA's email
• Website address: optional
• Number of business activities owned and operating in West Virginia: optional
• Number of common and/or preferred shares for authorization
• Type of company to be started: Choose between "nonprofit/non-stock" or "for-profit"
• Business purpose
• Nonprofit members: Only if forming a nonprofit organization
• Number of acres of land owned in West Virginia
• Name, address, and email of a contact person: Suggest using ExportUSA's details to avoid promotional mail and emails

After filing the Articles of Incorporation, West Virginia's Business Division will send registration confirmation, concluding the opening phase. Organizational meetings, including the first Shareholders' Meeting and Board Meeting, must then be held. An annual administrative report must be submitted to West Virginia's Business Division by July 1st every year.

Taxation in West Virginia

• Corporate income tax in West Virginia is a flat 6.50%.
• Personal income tax in West Virginia is progressive, structured over five brackets with rates ranging from 3% to 6.5% for personal incomes over $60,000
• Sales Tax in West Virginia is 6%, with a local county and municipality surcharge of up to 1%
• Property Tax in West Virginia is 0.57%, with taxes payable semi-annually on September 1st and March 1st
• No inheritance tax in West Virginia

Overview of West Virginia's Economy

In 2022, West Virginia had a population of 1,775,513 inhabitants, with an annual decline of 0.5% over the last five years, ranking 50th among all U.S. states for population growth.

The GDP of West Virginia reached $71.7 billion in 2022, with a growth of 0.1% over the last five years.

Employment in West Virginia was 644,784 people in 2022, with an average annual employment growth rate of 0.4%.

The unemployment rate in West Virginia was 4.0% in 2022.