Business and Occupation Tax Return - CITY OF PRINCETON, WV 2025

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  1. Click ‘Get Form’ to open it in the editor.
  2. Select the quarter for which you’re filing by choosing from the options provided (First, Second, Third, or Fourth Quarter) and enter the corresponding year.
  3. Fill in your business details including Business Name, Mailing Address, Business Type/Primary Activity, and indicate if your business is currently operating. Ensure all fields are completed.
  4. For the Quarterly Business Activity Worksheet, indicate the types of business activities engaged in during the quarter. Enter taxable income amounts for each category and calculate tax due by multiplying taxable amounts by their respective tax rates.
  5. Add up all taxes due from various activities. If applicable, include a 5% late filing penalty for overdue submissions and calculate any monthly exemptions.
  6. Finally, compute your Total Tax Due by adding all relevant figures together as instructed on the form.

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The tax is imposed on companies operating a business in the state, including out-of-state businesses that have a presence in Washington. The revenue generated from the BO tax helps fund various state programs and services.
Almost all businesses are subject to BO tax since its a tax on gross income and not just taxable sales. Washington has different classifications for BO business activities; the four main classifications are Retailing, Wholesaling, Manufacturing, and Services Other Activities.
West Virginia Tax Rates, Collections, and Burdens There are also jurisdictions that collect local income taxes. West Virginia has a 6.5 percent corporate income tax rate. West Virginia also has a 6.00 percent state sales tax rate and an average combined state and local sales tax rate of 6.57 percent.
The business and occupation tax (often abbreviated as BO tax or B/O tax) is a type of tax levied by the U.S. states of Washington, West Virginia, and, as of 2010, Ohio, and by municipal governments in West Virginia and Kentucky.
You can use the MyTaxes website to begin remitting payments electronically using the ACH Debit method. Credit Cards All major credit cards accepted. You can visit the Credit Card Payments page for more information.

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A Business and Occupation Tax is imposed on any persons(s) engaging or continuing with the state in any public service or utility business, except railroad, railroad car, express, pipeline, telephone and telegraph companies, water carriers by steamboat or steamship and motor carriers.
Generally, this means you do not have to report BO tax unless the firm has not reported your commission income. For reporting periods starting on or after January 1, 2025, commissions earned from the sale of real estate are subject to BO tax under the Real Estate Commissions classification at a 1.5% rate.

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