West Virginia Corporate Tax Exemption
STEPS TO APPLYING FOR TAX EXEMPTION IN WEST VIRGINIA
by Drake Forester
Is my West Virginia non-profit corporation eligible for any state tax exemptions?
Yes. Nonprofit corporations in West Virginia are eligible for corporate net income tax, business franchise tax, sales tax, and property tax exemptions if they meet the stipulations of the WV state and local governments.
How does a WV non-profit corporation become exempt from corporate net income and business franchise taxes?
The prerequisite for a WV nonprofit to be exempt from West Virginia’s corporate net income and business franchise taxes is to be deemed federally tax exempt by the IRS. Once the nonprofit has been granted federal tax exemption, it must file Form WV/CNF-120 with the West Virginia State Tax Department’s Internal Auditing Division. To maintain the exemption, the WV nonprofit must resubmit the form annually.
How does a West Virginia non-profit receive exemption from state sales tax?
The following kinds of entities can apply for sales tax exemptions in West Virginia:
- Government entities
- 501c3 tax exempt nonprofits
To apply for the sales tax exemption, organizations must submit a completed Certificate of Exemption to the West Virginia State Tax Department’s Taxpayer Services Division.
How does a non-profit corporation in West Virginia obtain an exemption from property taxes?
Property tax exemptions are obtained through local county tax assessors’ offices. To apply, contact your local county tax assessor’s office and they will advise you on how to proceed.
West Virginia tax contact info:
West Virginia State Tax Department
Taxpayer Services Division
Post Office Box 3784
Charleston, WV 25337-3784
This comprehensive guide to obtaining and maintaining 501c3 status from the IRS includes information on how to prepare your nonprofit to apply for 501c3 status, as well as information about the forms and fees required by the IRS.
This guide overviews and includes the special tax-exempt language a 501c3 nonprofit organization must include as part of its articles of incorporation.