Does the tax man want to know if people are paying you to mow lawns or organize closets? The short answer is yes. If you engage in activity for profit in West Virginia, you have to register your business with the Secretary of State. Here's how to legitimize your business in West Virginia.
If special licensing is necessary, complete requirements and obtain your license before registering your business. This usually involves passing a competence test by your profession's Board of Examiners. Some examples of professionals requiring special licensure include medical personnel, counselors, social workers, and those who wish to sell regulated products such as alcohol or lottery tickets.
Choose a business structure. In addition to determining which tax form to fill out at the end of the year, your business structure has legal, financial and ownership implications. Before making your final selection, consider whether or not you need employees, how your options will affect your taxes, and how vulnerable you are to legal liability. Visit the U.S. Small Business Administration web site for an introduction to basic and special structures.
Visit www.business4wv.com. Click on "Start a New Business," then follow the steps appropriate for your situation. Have a credit card ready to pay the fees, including $50.00 for basic registration, additional fees depending on your needs(excess acreage, etc.), and $15.00 per copy of your license.
Consult a licensed, qualified attorney and accountant. They can help you maximize your profit and protect your investment.
As soon as you have notification that your business is approved, you can get to work!
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