How much does an LLC cost in West Virginia? (details)
Forming a West Virginia LLC entails more than just paying the first filing fee; it doesn't have to be extremely expensive.
We outline all up-front and continuing costs for a West Virginia LLC and advise how to successfully cut these out of the budget.
How Much Does It Cost to Start an LLC in West Virginia?
There is a $100 filing fee for the Articles of Organization with the Secretary of State when forming an LLC in West Virginia.
This is important in creating your LLC's legal standing, allowing it to function under West Virginia regulations if approved.
Apart from the LLC filing fee mentioned above, additional expenses are associated with establishing a West Virginia LLC (Limited Liability Company).
Costs of Forming a West Virginia LLC
Forming an LLC includes a one-time state filing fee of $100.
There are also ongoing fees (like a $25 Annual Report fee and potential business license fees), which we discuss below.
LLC Costs in West Virginia
| Requirement | Cost |
|---|---|
| LLC Name | $0 |
| Registered Agent | $0 or $125 per year |
| Articles of Organization | $100 |
| Business Registration Certificate | $30 |
| City Business License | $10 - $20 |
| Operating Agreement | $0 (free on our site) |
| EIN Number | $0 (free to the IRS) |
| Annual Report | $25 |
| Taxes | varies (filed and/or paid every year) |
The filing fee for a West Virginia LLC Articles of Organization is $100
In West Virginia, forming an LLC requires paying the Secretary of State a $100 filing fee for the Articles of Organization. This paper creates your LLC legally if it is accepted.
After formation, you only need to pay the $100 one-time charge; after that, you won't need to pay any more monthly or yearly fees to keep your West Virginia LLC active.
✎ Note:
LLCs represent the predominant business structure in West Virginia, chosen for their robust liability protection afforded to owners, making them highly favored among business entities.
The form used to establish an LLC can vary by state; it may be called the Articles of Organization.
In West Virginia, it is specifically known as the Articles of Organization. Despite these variations in naming, they all serve the same purpose to create your LLC legally.
Reserving a business name in West Virginia entails a fee of $0
The creation of your West Virginia LLC Name Reservation is completed simultaneously if you want to file online. An additional $0 filing fee is required for an online name reservation when filing online.
Remember to include the Name Reservation with your application if you want to file by mail.
But before forming your LLC, you have to wait for the Name Reservation to be approved. Even though filing by mail can save you a few bucks, it can take longer to form your LLC.
How much does a DBA cost? ($25)
In West Virginia, a DBA is filed with the town clerk rather than the Secretary of State. Therefore, the cost of a DBA will vary depending on the town where your LLC is doing business.
✎ Note:
A DBA, also known as a Trade Name, Fictitious Name, Assumed Name, or Fictitious Business Name, refers to the same concept.
★ Tip:
Obtaining a DBA for your LLC is optional and not a requirement.
West Virginia Registered Agent Fee ($0 to $125/ annually)
Under West Virginia law, every LLC formation requires the appointment of a Registered Agent.
Your West Virginia Registered Agent acts as the liaison for legal documents and state notifications on behalf of your LLC, necessitating a physical address within the state and availability during regular business hours.
You can appoint yourself, a trusted associate, or a family member as your Registered Agent without incurring additional expenses.
Alternatively, hiring a Registered Agent service costs between $100 and $300 per year. These services offer additional business support and safeguard your privacy.
Hiring a Registered Agent service is a good idea if:
- You lack a physical address in the state (West Virginia law mandates Registered Agents to have an address within the state).
- You prefer to keep your address private (some companies allow you to use their address for confidentiality).
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LLC Operating Agreement Fee ($0)
A West Virginia LLC Operating Agreement functions as a written contract among the LLC's members. It outlines specific details regarding ownership, how the LLC is managed, and the distribution of profits.
Both Single-Member and Multi-Member LLCs should create an Operating Agreement, maintain it within their business records, and provide each member with a copy.
Online services generally charge between $50 to $200 for crafting an LLC Operating Agreement.
LLC EIN Number Fee ($0)
An EIN, also referred to as an Employer Identification Number or FEIN (Federal Employer Identification Number), is essential for handling tax filings, setting up an LLC bank account, and potentially facilitating employee hiring.
While some platforms may charge a fee, you can obtain an EIN for your LLC free of charge directly from the IRS. The process to apply online is simple and typically takes only a few minutes to complete.
West Virginia LLC Annual Report Fee ($25/year)
In West Virginia, the LLC Annual Report is referred to as the Periodic Report.
The state requires you to keep your LLC's information up to date by filing a West Virginia Periodic Report annually.
This keeps your LLC in good standing and compliance with state law so it can continue operating. You simply confirm the information on your Periodic Report, file it with the West Virginia Secretary of State, and pay the Periodic Report filing fee.
The West Virginia LLC Periodic Report is free annually. These costs are required each year for the duration of your LLC's existence.
✎ Note:
Other business entities may file different reports, but LLCs only need to file the Periodic Report each year.
West Virginia Business License and Permit Fees
The locations and industry sectors in which your LLC operates in West Virginia may require you to apply for additional business licenses or permits. For your LLC's specific operating area, for example, it may be necessary to obtain a city business permit.
Location and industry specifics can affect the cost of these licenses or permits. These costs are usually fair. Local governments such as towns, cities, or counties are responsible for administering some licenses and permits, while the state issues others.
LLC Taxes
West Virginia LLC owners face a range of tax obligations, leading to varying annual costs.
Some of the taxes LLC owners pay include:
- Federal taxes
- State income tax
- Local income tax
- Business taxes
- Self-employment taxes
- Sales and use tax
- Payroll tax (if you have employees)
- Property tax (if the LLC owns property)
The Taxes of Your West Virginia LLC taxes are affected by your industry and business activities, making it difficult to predict. Every business is different, and the taxes your LLC owes depend on your specific situation.
✎ Note:
Typically, a Single-Member LLC is taxed similarly to a Sole Proprietorship, while a Multi-Member LLC is taxed similarly to a Partnership.
Hiring an Accountant
Accounting fees can vary, but in general, expect to pay about $300 a year for basic tax returns and up to $900 for more comprehensive filings.
The best person to help you determine your small business tax liability in West Virginia is a certified accountant.
While accounting costs can vary, you should generally budget $300 for simple tax returns and up to $900 for more complicated filings annually.
Need to save time?
Consider hiring a professional to set up your LLC: Northwest Registered Agent offers LLC formation services starting at $39 plus the state fee.
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✎ Note:
Accounting fees can vary, but in general, expect to pay about $300 a year for basic tax returns and up to $900 for more comprehensive filings. We recommend speaking with a few West Virginia accountants to make sure they can help you with all of your local, state, and federal tax needs. For more advice, see our comprehensive guide on how to find an accountant.
West Virginia Secretary of State
If you're curious about the expenses involved in starting a West Virginia LLC, feel free to contact the West Virginia Secretary of State for detailed information.
West Virginia LLC Costs FAQs
How much does it cost to open an LLC in West Virginia?
To start an LLC in West Virginia, it costs $100 to file online using the One Stop Business Portal. This fee is for the LLC Articles of Organization.
Additionally, every West Virginia LLC must obtain a Business Registration Certificate from the West Virginia State Tax Department, which costs $30. This can be obtained while forming your LLC on the One Stop Business Portal or by filing a separate BUS-APP form by mail.
Therefore, the total cost to start an LLC in West Virginia is $130.
Do you have to pay an annual fee for an LLC in West Virginia?
Yes, all West Virginia LLCs must pay $25 per year for the Annual Report to keep your LLC in good standing. This fee is paid to the WV Secretary of State.
You might also encounter monthly (or annual) fees for your business bank account, depending on the bank you use. Additionally, if you hire a Registered Agent service, there’s typically an annual fee of around $125.
Some LLCs may require industry-specific or municipal business licenses, which could come with additional fees. It’s important to check with your local municipality for any extra costs related to business licenses.
Do I need to hire an attorney to form an LLC?
No, hiring an attorney is not required to form an LLC in West Virginia. You can complete the formation process yourself if you prefer.
However, you might want to consider hiring an attorney if your LLC has a complex ownership or management structure, involves investors, or requires specific documentation. Generally, a business attorney charges between $800 and $2,500 to assist with LLC formation.
Should I hire an LLC formation service?
You are not required to use an LLC formation service in West Virginia. You can handle the LLC formation process on your own.
What’s the cheapest way to start an LLC in West Virginia?
You can minimize costs by filing your formation documents yourself and acting as your Registered Agent. Additionally, using a free LLC Operating Agreement template can further reduce expenses.
By taking these steps, you can save over $250 compared to using a formation service.
Keep in mind that you must be available during normal business hours and have a physical street address in WV to act as your LLC’s Registered Agent.
How much does a West Virginia business bank account cost?
The cost of a business bank account varies. Some banks charge monthly fees ($10 to $20), but these can often be avoided by meeting certain conditions, such as making a minimum number of direct deposits or maintaining a specified balance.
You may also find banks that don’t charge monthly fees. It’s a good idea to contact banks in advance to inquire about ways to waive maintenance fees.
How much is a Foreign LLC in West Virginia?
A Foreign LLC, which is an LLC formed in another state but operating in West Virginia, costs $150 to register. You will need to file the West Virginia Application for Certificate of Authority of Limited Liability Company (Form LLF-1) to register your out-of-state LLC in West Virginia.
This can be done online or by downloading the form from the state’s website.
How long does it take to get an LLC in West Virginia?
The processing time for an LLC in West Virginia depends on the method of filing. If you file online, approval can take 5-10 business days. Filing by mail takes approximately 5-10 business days, plus additional time for mail delivery.
Is West Virginia a good state for an LLC?
West Virginia is a favorable state for starting a business, with quick approval times and helpful Secretary of State representatives. However, the most crucial factors for choosing a state are your residence and where you plan to do business.
If you live in or operate your business in West Virginia, it makes sense to form your LLC there. Forming an LLC in a state where you don't live or conduct business often leads to additional fees and complications.
For instance, forming an LLC in Delaware while living and conducting business in West Virginia requires you to register the Delaware LLC in West Virginia, incurring additional fees and taxes. Therefore, if you are a West Virginia resident, it is generally best to form your LLC in West Virginia.
How do I start an LLC in West Virginia?
To start an LLC in West Virginia, follow these steps:
- Choose a business name and ensure it’s available
- Select a West Virginia Registered Agent
- Obtain a Tax ID Number (EIN) from the IRS
- File the West Virginia LLC Articles of Organization
- Obtain your Business Registration Certificate
- Complete and sign an LLC Operating Agreement
- Open an LLC bank account