A West Virginia Corporate Ownership Statement is a legal document filed with the West Virginia Secretary of State that identifies the owners and directors of a corporation in the state of West Virginia. It must be signed by an officer of the corporation, and the signature must be notarized. The statement is used to maintain the corporation's legal status and to keep accurate records of the ownership of the corporation. This document is also known as a West Virginia Corporate Disclosure Statement. The two main types of West Virginia Corporate Ownership Statements are Articles of Incorporation and Annual Reports. The Articles of Incorporation provide information about the corporation's name, purpose, and number of authorized shares. The Annual Report includes information about the corporation's financial information and any changes in its officers and directors.
West Virginia Corporate Ownership Statement
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How to fill out West Virginia Corporate Ownership Statement?
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FAQ
West Virginia Adopts Single Sales Factor & Market-Based Sourcing.
Although there is some ambiguity in the law, West Virginia taxable income for West Virginia residents may include income sourced to other states. The tax rate for the pass-through entity tax is the highest marginal individual tax rate, which is currently 6.5%.
Declaration of Consideration of Value (This is the monetary amount for which the property is sold. If the property is being transferred without monetary value, it must state in the declaration paragraph 'why' it is exempt from transfer tax.)
Standard apportionable income is apportioned by multiplying the income by a fraction, the numerator of which is the property factor plus the payroll factor, plus 2 times the sales factor, and the denominator of which is 4.
Incorporation: ~1-2 business days mail or online. Choose a Corporate Structure.Check Name Availability.Appoint a Registered Agent.File West Virginia Articles of Incorporation.Establish Bylaws & Corporate Records.Appoint Initial Directors.Hold Organizational Meeting.Issue Stock Certificates.
Corporations are required to allocate certain types of nonbusiness income to West Virginia and apportion their remaining income. The Corporation Net Income Tax rate is six and one-half percent (. 065). Any corporation exempt from federal income tax is also exempt from West Virginia Corporation Net Income Tax.
What is the West Virginia corporate net income tax rate? 8.5% of net income with minimum payment of $50 for Business franchise tax.
In the State of WV, minerals are considered property and therefore fall under the Ad Valorem Property Tax. All real and tangible personal property, with limited exceptions, is subject to property tax.