What are the requirements for filing taxes for a new business?
In West Virginia, the basics of forming a new business require taxes to be filed in order to legally operate. Filing taxes for a new business in West Virginia starts with filing the right tax forms with the West Virginia State Tax Department. The type of tax form required will depend on the type of business. Next, the business will need to register with the West Virginia Secretary of State. The Secretary of State requires an LLC, partnership, or corporation to register in order to legally conduct business in the state. The business must also register with the West Virginia Department of Revenue. To do so, the business must submit Form WV/IT104 – Business Registration Form, which is used to set up a West Virginia business tax account. Finally, the business must obtain a business tax license from the West Virginia State Tax Department. This license must be obtained in order to collect and remit taxes. In order to ensure that all tax obligations are fulfilled, it is best to consult with a trained professional in the area of business formation law. Doing so will help to ensure that taxes are filed correctly and on time.
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