West Virginia LLC, Corporation, and DBA Startup Guide
- Step 1: Decide on a Business Structure
- Step 2: Pick a Business Name
- Step 3: Register the Business
- Step 4: Obtain Your Federal Employer Identification Number
- Step 5: Open Company Bank and Credit Accounts
- Step 6: Set-up An Accounting System
- Step 7: Obtain Licenses and Permits
- Step 8: Hire Employees (if applicable)
- Step 9: Obtain Business Insurance
- Step 10: Systemize and Organize
- Step 11: Branding and Marketing
- Step 12: Annual and Ongoing Requirements
West Virginia Business Facts and Environment
West Virginia Business Facts
The state of West Virginia ranked last in various surveys in terms of its viability in doing business. But that does not entirely mean West Virginia has nothing good to offer. In fact, the state has not had an increase in general tax for over two decades now. Most importantly, the cost of doing business in West Virginia is one of the lowest in the United States.
Major Companies Headquartered in West Virginia
West Virginia is the headquarters of many major companies including CAMC Health System, Prime, MedExpress, Patriot Coal, and The Special Metals Corporation group of companies.
Startup Environment
Starting a business in West Virginia can be a cost-saving choice. Since 2005, the state has witnessed more than $13 billion in new business ventures. Its business tax climate ranked 19th in 2019’s survey conducted by the Tax Foundation. West Virginia is the best place to start a new venture with less capital required.
West Virginia LLCs, Corporations, and DBAs
Step 1: Decide on a Business Structure
There are 3 basic options: a DBA, a Corporation, or an LLC. Click here to learn more about business entities.
- A DBA or “Doing Business As” (also known as a “Fictitious Business Name” or FBN) is not really a separate structure, but just a different name that an individual or partners use as their business name.
- A Corporation is a separate entity (provides liability protection to the owners) that has a structure that includes shareholders, directors and officers. More complex than a DBA but the entity of choice for large companies and startups that intend to raise funding. Some professions are required to choose what is known as a “Professional Corporation” or PC (doctors, lawyers, architects, etc.).
- An LLC or “Limited Liability Company” is a newer type of business that is both a separate entity but provides very easy management (doesn’t require directors or officers) and taxation. Has largely replaced the DBA and Corporation in popularity recently as it provides liability protection but with much less complexity (and taxation) than a Corporation.
Step 2: Pick a Business Name
Choosing a business name is easier said than done – many legal and business problems can arise from picking the wrong name, so it’s best to consider a name that stands out and is timeless so it grows with your business. In Step 3 we’ll show you how to search for the name in West Virginia, but we highly recommend you do the following before searching West Virginia state databases:
- Make sure you’ve covered the basics: unique, easy to understand/pronounce (practice saying it out loud: “Thanks for calling XYZ”) and can survive over time (“DVD World” is not timely). Here are some of our tips on business identity including logo and trademarks.
- Search the web for your proposed name. Search Google, Bing and DuckDuckGo as a “first sweep” for any potential conflicts, especially in your state or local jurisdiction. NOTE: If you intend to operate nationally or even internationally it will be even more important that your name be unique. This should cover many cases where a company name is being used but not officially trademarked (see next tip).
- Do a trademark search with the US Patent and Trademark Office (USPTO). This will be a very good indicator if your name will have any conflicts. There’s an art to trademark searches (trademark specialists will charge you handsomely to do a thorough search) but in our experience if you can use Google at a fairly advanced level you can reasonably clear a name yourself. Tip: Search misspellings, plurals, variations of spelling, sound-alikes and other versions of your chosen name to be sure it’s not already registered.
- Make sure your company name choice is available by searching the West Virginia Business Entity Database and doing a name search on the State of West Virginia website. NOTE: Make sure to search variations of spelling, plurals and misspellings as the state may reject a name that is too similar (then you have to start all over again, wasting valuable time).
NOTE: Familiarize yourself with the West Virginia naming guidelines. LLC entity names need to contain the words Limited Liability Company or the abbreviation LLC, and certain words are restricted or prohibited.
Restrictions on West Virginia Business Name & Business Purpose
- Business names should be unique.
- West Virginia corporate names may have the following approved designations:
- Corp.
- Corporation
- Inc.
- Incorporated
- Limited
- Ltd.
- The use of the following words and phrases in corporate names is considered “restricted” in West Virginia:
- Bank
- Banker
- Bankers
- Banking
- Banks
- Engineer
- Engineered
- Engineering
- Engineers
- Land Surveyor
Step 3: Register the Business
Each state has its own requirements for registering a business. Now that you’ve chosen a business structure and selected your business name, here are the requirements to register your business in West Virginia.
How to Form an LLC in West Virginia
- File the “Articles of Organization” with the West Virginia Secretary of State LLC Division.
- Once the articles are filed and approved you will then need to properly organize the LLC (this also applies to “1-person LLC’s”) by holding an “Organizational Meeting” which takes contributions from the members, issues Member Certificates, adopts the company Operating Agreement and more.
How to Incorporate in West Virginia
- File the “Articles of Incorporation” with the West Virginia Secretary of State Corporate Division.
- Hold an “Organizational Meeting” to determine the percentage of ownership for each shareholder as well as resolve to do tasks like open a company bank account, pay back pre-incorporation expenses, elect S-Corporation status and more.
- Corporations can elect S-Corporation status with the IRS by filing IRS Form 2553. Click here to learn more about S-Corporations.
NOTE: When registering a new company the Secretary of State can take several weeks to file the paperwork. You can expedite the process by hand delivering the documents directly to them or one of their field offices and paying an additional fee.
TIP: Check our order form to see how long West Virginia is currently taking to process regular and expedited orders.
How to File a DBA in West Virginia
- Check the state database of business names.
- Complete the Assumed Business Registration form.
- The filing fee is $50.
Optional Considerations when registering a West Virginia business
- Hire a professional Registered Agent. Many people list their home or business address on the Articles of Organization or Incorporation. This can cause issues because it becomes public record (you’ll get lots of junk mail). A professional Registered Agent will provide their address and forward any important documents to you, this is also convenient if you have to move (you don’t have to file forms or pay fees, just update your address with your agent).
Ready to register a business in West Virginia?
- We specialize in registering businesses in West Virginia.
Ready to Start Now? Let Us Do The Work
Sure, you could do all the steps above or you could spend 5-10 minutes on our order form and let us take care of it while you work on more important things.
- Let our business filing service do the work for you
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Step 4: Obtain Your Federal Employer Identification Number
Your EIN is like your Social Security Number for your company. It’s required for Corporations and LLCs and optional for DBA’s (if you don’t have any employees, then it’s required). However, if you are a DBA and don’t obtain an EIN you will be forced to use your Social Security Number on many documents so it’s typically recommended you obtain the EIN to prevent identity theft.
To obtain an EIN you can apply online with the IRS or via IRS Form SS-4.
TIP: We will obtain your EIN for you if you we form your company.
Step 5: Open Company Bank and Credit Accounts
To keep business and personal expenses separate, you should open a separate account for your business. In addition, getting business credit cards is how you begin to build a company credit profile (corporation or LLC required) and can later qualify for larger loans and lines of credit. To open the account simply call your chosen bank and inquire about the steps to open a business bank account. Typically you’ll need a) your filed paperwork, b) your EIN, and c) a company resolution authorizing your company to open the account (signed by the owners, members, officers or directors, etc.).
Top 5 Major Banks in West Virginia
- BB&T Bank
- City National Bank
- United Bank
- WesBanco Bank
- Huntington Bank
Click here to view a list of our recommended banks in our Vendor Network.
TIP: Our business formation service includes a free banking resolution for your use.
Step 6: Set-up An Accounting System
Setup your Accounting and Record-keeping system and learn about the taxes your new company is responsible for paying.
Company documents generally are required to be kept for 3 years, including a list of all owners and addresses, copies of all formation documents, financial statements, annual reports, amendments, or changes to the company. All Tax and Corporate Filings should be kept for at least 3 years. View our “Accounting & Financial Management” section for help with setting up an accounting system and purchasing accounting software.
Review our list of Accountants, Accounting Software, and Bookkeepers in our Vendor Network.
Step 7: Obtain Licenses and Permits
Now that you’ve registered your business name you need to obtain a business license for your company – this authorizes your company to do business in your city or county. Typically this also involves registering for state taxes and permits (the city may require them as part of the business licensing process).
TIP: We work with a company that can obtain and prepare business licenses and permits for you. Click here to learn more.
Step 8: Hire Employees (if applicable)
If you intend to hire yourself or others as a full or part-time employee of your company, then you may have to register with the appropriate State Agencies or obtain Workers Compensation Insurance or Unemployment Insurance (or both). View our “Employees & Payroll” section for help with hiring employees and processing payroll.
Review our list of recommended Payroll Providers in our Vendor Network.
Step 9: Obtain Business Insurance
There are many types of insurance for businesses but they are usually packaged as “General Business Insurance” or a “Business Owner’s Policy”. This can cover everything from product liability to company vehicles. A decent policy can run as little as $300/year and offers a great extra level of protection.
Click here to view our list of insurance providers in our Vendor Network.
Step 10: Systemize and Organize
Prepare the business so someone else could take over and run it for you. Set up a process for managing orders, paying bills, employees, taxes, and maintaining your permits, etc. Basically, try to make the operational aspect of the business as automated and efficient as possible so you can concentrate on growing your business. View our “Manage Your Company” section for help with systemizing and automating your business.
Step 11: Branding and Marketing
Now that you’ve set up the company for success, you need to get the word out. Create a marketing plan for your products and services that targets your ideal customer. View our “Marketing & Sales” section for help for more information.
Step 12: Annual and Ongoing Requirements
DBA: Your Fictitious Business Name should be valid for 5 years, with an option for renewal.
LLC: West Virginia corporations are required to file a Periodic Report with the West Virginia Secretary of State by June 30 each year, in addition to general taxation. Information on your business’ taxes can be found here.
Corporation: Businesses in West Virginia should file a report by June 30 annually to the Division of Corporate and Consumer Services. LLCs and Corporations will pay a filing cost of $25.
Click here to view our MyCompanyWorks Premium™ service which can automate most of your ongoing compliance tasks.
Important West Virginia Contacts
West Virginia Secretary of State
Business Division (for Corporation and LLC filings)
1615 Washington Street East
Charleston, WV 25311
Phone: 304-558-8000
West Virginia Taxation Departments
West Virginia Labor and Employment Departments
West Virginia Startup Resources
1. Small Business Administration (SBA) West Virginia District Offices
- SCORE is a nonprofit association dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship.
3. West Virginia Legal Statutes
- West Virginia Business Corporation Act – note this is the broad code that includes various other topics including partnerships and associations.
- West Virginia Uniform Limited Liability Company Act – the specific act that applies to West Virginia LLC’s.
- West Virginia Professions and Occupations – general provision applicable to all state boards of examination or registration
4. West Virginia Chambers of Commerce
- Jackson County WV Chamber of Commerce
- The Charleston Regional Chamber of Commerce
- Harrison County Chamber of Commerce
5. Business4WV.com
- Business4WV.com is your online portal to state business services in West Virginia. Start here to establish a new West Virginia business or bring your out-of-state company to the Mountain State.
6. West Virginia Angel Investors
7. West Virginia Business News
8. WVEDA
- The West Virginia Economic Development Authority (WVEDA) was formed in 1962 as a public corporation and government instrumentality under Chapter 31, Article 15, of the West Virginia Code (the Act). WVEDA is administered by a nine member Board of Directors comprised of the Governor, Tax Commissioner and seven at-large members appointed by the Governor.
9. West Virginia Small Business Development Center
- The West Virginia Small Business Development Center provides expert guidance to help small businesses succeed. We provide the services and assistance your business needs throughout the development process including concept, startup and growth.
- Deckers Creek is a scenic tributary to the Monongahela River in north central West Virginia. From its headwaters outside the historic town of Arthurdale, Deckers Creek meanders through Preston County into Monongalia County, where it descends through a steep scenic gorge.
