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West Virginia Department Of Revenue, West Virginia Tax

West Virginia Business Corporate Tax, West Virginia Personal Income Tax, West Virginia Sales Tax Rates

What is the West Virginia corporate net income tax rate?

8.5% of net income with minimum payment of $50 for Business franchise tax. Franchise tax rate is .55% of capital.

What are the West Virginia personal net income tax rates?

0-10,000                  3%
10,000-25,000        4%
25,000-40,000       4.5%
40,000-60,000       6%
60,000 +                  6.5%

What is the average West Virginia sales tax rate?

6%

Are there standard deductions?

Single:   none
Joint:   none

Are there personal exemptions?

Single:   $2,000
Dependants:   $2,000

What forms do you file for your West Virginia taxes?

West Virginia C corporations:   Form CNF-120
S corporations:   Form WV-100 V EPV
Partnerships:   Form WV-100 V EPV
Individual:   Form IT-140

Estimated tax payments?

Form WVIT-140ES. West Virginia follows the IRS standards for estimated payments. If you will owe $600 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. It has to be at least 100% of the previous year, even if you think you won’t make as much in the current year.

Corporations file form CNF-120ES if their net taxable income combined with their franchise tax income is more than $12,000 for the year.

West Virginia Department of Revenue:

West Virginia State Tax Department
P.O. Box 3784
Taxpayer Services Division
Charleston , WV 25337-3784

Telephone: 800-982-8297 or 304-558-3333

Website:  http://www.wva.state.wv.us/wvtax/default.aspx

If you use Northwest Registered Agent as your West Virginia registered agent, you’ll have an online account to track your company in, receive notification reminders to file your annual reports on time, annual tax reminders, and new State information reminders. All for a low annual flat rate fee of $125 a year. We also help incorporate new West Virginia businesses for only $100.

Additional Resources:

West Virginia LLC
West Virginia Non Profit Corporation

Corporate Compliance
by Local Corporate Guides®