Forming an LLC in West Virginia is not difficult. The first step is choosing a name for your new LLC. Naming your LLC after something that you enjoy or something that reminds you of a past experience is popular. "Likes," "interests," "hobby," and "omplications" are names that can be used.
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Once you have a name for your business, you need to select a registered agent. West Virginia requires that all LLCs be run by a registered agent who lives in the state. Contact your local bank to determine what business licenses and permits they will issue to your company.
Business license applications in West Virginia are available from the state Board of Equalization. To apply for a business license in West Virginia, you must first complete an Application for Operating Partnership. The application includes a printed Outstanding Business License (OBT). You must attach a copy of the OBT to your business license and keep it with your company records. If your business makes payroll, you will also need to attach a copy of the pay slip to the application.
How to Form an LLC in West Virginia
Each of your LLC's must have a registered agent who can be reached via phone during business hours. Each registered agent should request a toll-free phone number from the Bureau of Corporations and Retirement in WV. On the bottom of the OBT there is an option to indicate which telephone numbers are your phone numbers. If you use multiple phone numbers, each registered agent can call them for you.
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If you live in the state of West Virginia, you cannot run your business as a sole proprietorship. Instead, you must form an LLC, commonly called a corporation, and may elect to have another corporation or LLC co-operate as legal partners. The registered agent will be the person who answers calls that are made to the business or residence address. Forming an LLC in West Virginia requires careful attention to the detailed instructions outlined on the Application for Operating Partnership. If you fail to follow these instructions, you will be considered guilty of criminal contempt.
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Forming an LLD in West Virginia also requires that all board members retain their membership in the company until the entire LLC is dissolved upon dissolution. All member-managed laws must register with the Office of the Secretary of State, and the names and addresses of all LLCs must be posted on the Board of Registration of LLDs. In order to be valid, all member-managed llcs must have their principalships in the LLC. If one or more of the principals becomes incapacitated, the company may choose to appoint a new LLD administrator. Once a company begins operating as an LLC, it is assumed that all prior operations are being conducted as an LLD under the operation manuals.
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Forming an LLC in West Virginia is often less expensive than most other forms of owning real estate, because a sole proprietorship does not need any capital funds. However, there are some fees that an individual can incur when forming an LLC in West Virginia. One such fee is the filing fee. If the office determines that an applicant is not properly completing the application, the fee may be charged. Also, if the business has an existing Limited Liability Company, the state requires a report of the LLC's financial performance and report any changes in ownership.
It should be noted that in the case of a sole proprietorship or LLC, the application cannot be filed with the state office for incorporating. Instead, one must contact the West Virginia Secretary of State to inquire about the required forms to be filed. The filing fee and any required reports are usually required when filing an individual's personal information with the state's Secretary of State.
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