West Virginia LLC Annual Report – File an LLC Annual Report in West Virginia


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The objective of the annual report is three-fold. The annual report keeps the Government informed about all the updates, communicates about all the modifications or changes, & keeps the LLC members informed about the necessary taxes and costs. This article has all the information about West Virginia LLC annual report filing in West Virginia.

An annual report can be called an address book, as it features all the relevant addresses of the company & the members. This yearly report is a record of all the company’s activities in an entire year. It is also referred to as the Annual Franchise Tax Report because it helps in filing the franchise tax.

Contents of the Annual Report

Typically the annual report filed by a West Virginia LLC (or any other business entity for that matter) will include all the information related to its business & members. The standard contents of the annual report  or the annual franchise tax report are

  • Office Address of the LLC
  • Names & Addresses of the Members & managers.
  • Identification Documents
  • Social Security numbers of the key members of LLC
  • The objective of the business of LLC
  • List of all the signatories of the LLC
  • Information of the registered agent, if any

West Virginia LLC Annual Report

An Annual report is essential for all business types. It authenticates that the information provided to the Secretary Of the State is accurate & updated. The information provided in the annual report helps the State officials to ensure that all the companies pay taxes. The West Virginia Annual Report is filed with the West Virginia Secretary of State.

Does the State of West Virginia Require an Annual Report Filing?

Every Business Entity in West Virginia must file an Annual Report. This includes all the legal entities such as C Corporations, Limited Partnerships, Limited Liability Companies, bound to file the Annual Report.

Annual Report Deadline

As mentioned above, filing the Annual report is a mandatory requirement even for an LLC. An LLC operating in West Virginia has to file the Annual report every year with the West Virginia Secretary of State by July 1st.

Penalties for Non-filing or late filing

An Annual Report is one of the important documents filed by an LLC. Any Annual Report filed after the deadline will result in a late fee of $75. Further failure to file the annual report will cause the dissolution of the LLC.

Why Do LLCs Have to File the Annual Report?

Some of the states are not required to file this yearly report, commonly known as the Annual Report. However, there are some reasons why states should file an LLC Annual Report. Here are some reasons,

To Maintain the Accuracy of the Information

An annual report filed by the LLC has all the updated information about its official addresses & the names or addresses of all its officials. This updated information allows the State authorities to track down any LLC when communicating.

To Provide the Correct Correspondence

Many times, any creditor or other entity willing to transact with the LLC requires the correct correspondence address. If this information (which can only be modified with the help of an annual report) is not updated every year, such entities will not be able to communicate with them.

To Notify the Government About All the Significant Changes

If you have changed your main business address or had new business appointments of managers or members, the annual public information report notifies the State Government Entities about it. So, the next time someone questions a newer reform that you have introduced in your LLC, you will be saved because you had submitted the information with the Government.

To Provide an Activity Log of an LLC

The Annual Report is like an activity log of the LLC. It brings on record; all the transactions, new associations, appointments, etc. & keeps those records intact for all future references.

To Help You With the One-time Filing of Taxes

The annual report is an excellent means to keep you on your toes in case of your dues payment. Every LLC must pay the taxes through the annual report filing. By filing the report on time, the LLC can manage the exemptions & can avoid penalties imposed by the Government. 

To Enable the State to Track the Payments

The government authorities use all the information filed through the annual report for tracking the payment of State Taxes.

How to File a West Virginia LLC Annual Report

The West Virginia LLC Annual Report can be filed online only. An LLC operating in West Virginia has to file the Annual report every year with the West Virginia Secretary of State by July 1st.

Steps to File West Virginia LLC Annual Report Online

Time needed: 5 minutes.

Below is the procedure to file the West Virginia LLC Annual Report online.

  1. Visit West Virginia Secretary of State Website’s Annual Reports Page

    Your first step in filing the West Virginia Annual Report is visiting the West Virginia Secretary of State website’s Annual Reports Page. west-virginia-llc-annual-report

  2. Click on Select your Company Type

    Scroll down on the page & click on the Select your Company Type. Choose west-virginia-llc-annual-report

  3. Click on the File online Tab

    Click on the File online Tab at the top of the page. west-virginia-llc-annual-report

  4. Log in & Start filing online

    Follow the prompts & start filing online. You can log in or create an account or you can file the report online as a guest.west-virginia-llc-annual-report

West Virginia LLC Annual Report (Domestic & Foreign)

State Office:West Virginia Secretary of State
Bldg. 1, Suite 157-K 1900 Kanawha Blvd. East
Charleston, WV 25305-0770
Links to Website
Due Date:An LLC operating in West Virginia has to file the Annual report every year with the West Virginia Secretary of State by July 1st.
Filing Fee:The Annual Report filing fee is $25.
Penalty:Any Annual Report filed after the deadline will result in a late fee of $75. Further failure to file the annual report will cause the dissolution of the LLC.
Filing Method:An LLC can file the Annual Report Online or by mail.
Forms:
Important Information:Once a Domestic or Foreign West Virginia   Limited Liability Company submits the Annual Report along with the prescribed fees to the West Virginia  Secretary of State, the filing is said to be complete.

Seek the Help of a Registered Agent

Every State will have a different rule for filing the Annual Report. Usually, it is submitted every year, but it is submitted once in two years in some states. Some states require the filing of the report only once in ten years.

Not only the timing, the mode of filing, the proper addresses, exemptions, legality, annual report compliance, etc., have to be taken care of while paying the taxes or filing any reports with the State authorities. In many such scenarios, it is advised that an LLC appoints a Registered Agent to manage all this. Check out the best LLC service that offers all the services at an affordable price. An experienced agent is required for:

  1. Streamlining the mandatory processes & filing.
  2. Sending or receiving any documents.
  3. Reminding you about important dates of filing or payment of taxes. 
  4. Simplifying the filing procedures.
  5. Avoid any penalties.
  6. Flexibility in working.
  7. Maintaining Privacy (as it keeps your personal records off the public record)

You can read more about a West Virginia Registered Agent here.

How Fast Can I Fill West Virginia LLC Annual Report

How Fast Can I Fill West Virginia LLC Annual Records? There are several different options for the purpose of your LLC records, but the purpose you choose should be as specific as possible. In some cases, you can even specify a different mailing address. However, it is not recommended to use a PO Box as the address of your primary office. The address you choose for your records can be either a post office box or a physical address in West Virginia.

In West Virginia, you must file an annual report every year for your LLC. You must file a report between January and July. If your LLC was formed before January, your first report is due the following calendar year. If your report is filed late, you will be liable for a $50 penalty. Therefore, it’s imperative that you plan ahead and file on time. The Small Business Administration recommends consulting an attorney or accountant to help you with the process.

When you create your LLC, you will be responsible for paying employer taxes. Some of these taxes are paid to the federal government. While most LLCs are pass-through entities, you may be required to file your annual report as a corporation. You can opt to pay these taxes on behalf of your LLC if you want. To do so, you will need to file Form CNF-120. If you’re not sure which form to fill, consult the West Virginia Department of Taxation for more details.

FAQs

Is it essential to file an Annual Report?

Yes, an annual report is essential for every business entity in most states. Some states also ask to file biennial or decennial reports to be filed.

What are the contents of the Annual Report?

A Yearly Business Report or the annual report typically incorporates the address of the business, names & addresses of the members, a list of all the signatories, SSN of the members, & details of the registered agent.

Why is hiring a Registered Agent necessary in filing the Annual Report?

A Registered Agent is well-aware of all the filing requirements, annual report filing fee, & overall Annual Report compliance. The knowledge & proficiency of the registered agent allows the smooth filing of reports & other fees.

What do I have to do for the annual business report preparation?

The most important thing for filing an Annual Report is record keeping. Make sure that you document every other transaction well.

Do the filing fees change as per the types of companies?

Yes, the fees may vary depending on the type of entity or the type of legal entity you are representing.

In Conclusion

An LLC has to file many types of reports, such as Application for Reinstatement, Periodic Report of a limited partnership (usually filed by the exempt nonprofit organization), etc., which are required depending on the type of entity. The Annual Report is mandatory irrespective of the entity type. It requires compliance across entities.

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