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West Virginia (USA)

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Registering a company in West Virginia (USA) in 2020

The main advantages of starting a business in West Virginia are:

  • Developed IT-sector and medical industry;
  • Corporate tax – 6.5%;
  • A favorable environment for mining activities;
  • It is allowed to establish a company in the name of a non-resident of the US;
  • Simplified registration procedure.

Business registration – from €1,690

Company registration period – from 14 days

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West Virginia is the eastern US state of the land in the wooded mountains of the Appalachian Mountains. The administrative center is Charleston. The only language is English. Adjacent to Maryland, Virginia, Ohio, Pennsylvania, Kentucky. West Virginia is called the mining region. There are rich reserves of coal and salt. Excess energy from coal-fired power plants and wind turbines is exported to the United States. There are also gas, oil and limestone resources in the region. The chemical industry operates. Forestry is typical of the region. It is possible to obtain licenses in West Virginia for hunting coyotes and fishing. Mountain tourism is also developed. In large cities, the leading role in the economy is played by the service sector. The largest airport in West Virginia is named Yeager. The largest companies in the state are medical. Also, here is the DuPont headquarters. Profitable to register a company in West Virginia with IT.

A taxation in West Virginia

Deciding to establish a company in West Virginia, you must know the tax rates of this jurisdiction.

As in other states, a federal corporate tax of 21% applies in the jurisdiction in question. 55 municipalities can levy licensing and gross taxes on businesses located within the city, and tax on accommodation in the city. We draw the attention of entrepreneurs, who decided to open a business in West Virginia, that each county and municipality can set their own property tax rates to the extent established by the Constitution of West Virginia. The general tax rate is a combination of tax revenues from four state tax authorities: a state, a county, schools and municipalities. This general tax rate varies for each of the four classes of property, which consists of personal, real and intangible assets. In West Virginia, you must pay the local corporate tax (6,5%), as well as state profits (from 4,4 to 6,4%) and from sales and use (4%); tax on interest and royalties is 30%, on dividends is 35%.

Read also:
How to open an enterprise in the USA

In order to register a company in West Virginia, you must meet the minimum conditions:

  • to set up a firm in West Virginia can at least 1 director and shareholder of any residency, it can be both companies and individuals, persons, there must be a resident agent;
  • then it is required to propose a non-repeatable company name with clarification of the legal form of the company;
  • it is also necessary to open a bank account in West Virginia*, enter company data in an open registry and file tax reports.
Legal forms of companies in West Virginia:
  • a Free Economic Zone Company (FZ LLC);
  • a Limited Partnership (LLP);
  • an Individual Entrepreneurship (SP);
  • a Local Corporation (S-Corp/C-Corp);
  • an Open Limited Company (PLC);
  • a Limited Liability Company (LLC);
  • a Representative Office (RO);
* You can open a bank account in West Virginia at one of the banks:
  • United Bank;
  • National Bank of Virginia;
  • WesBanco;
  • Bank Romney;
  • Huntington Bank;
  • Middleburg Bank;
  • New People's Bank;
  • National Bank of Forest;

IQ Decision lawyers will help you to register a company in West Virginia remotely, to open a US corporate account, to obtain a business license in the USA, and also advise on the paperwork.

The information outlined in the article is actual at the time of its publication. Please refer to our specialists for checking possible solutions for your business.

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