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What taxes does West Virginia have?

The state of West Virginia has both a state sales tax and a state income tax, along with some of the lowest property taxes in the U.S. The income tax system here consists of five brackets, with rates from 3% to 6.5%. The sales tax is 6% statewide, with a handful of cities collecting additional local taxes of 1%.

Do all states require an annual report?

Currently, all states, except Ohio, require some sort of annual report filing. Specific filing requirements and deadlines vary by state. Some states also require an initial report when first starting a business. When businesses fail to file on time, they might get hit with fines or other penalties.

What is Business and Occupation Tax in West Virginia?

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.

Does West Virginia have a corporate income tax?

West Virginia has a 6.50 percent corporate income tax rate and permits local gross receipts taxes.

How do I close a sole proprietorship in West Virginia?

File a dissolution, termination, withdrawal, or cancellation online quickly and conveniently through the One Stop Business Portal. The Secretary of State's Office also provides forms that meet minimum state law requirements available online through the Secretary of State Form Search.

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