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Controlling Your Taxes Your State Tax Obligations West Virginia Taxes on Business Income in West Virginia
Controlling Your Taxes Your State Tax Obligations West Virginia Taxes on Business Income in West Virginia
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PrintTaxes on Business Income in West Virginia
As in every other state, the state of West Virginia has various types of taxes. All of these types of tax are full of exceptions and extremely specific requirements. Below we have gone through the major types of tax that affect small businesses. Our intent is to give you a general understanding of when the various taxes will apply to you and what they will mean to your business.
- Franchise tax is required from most corporations doing business in West Virginia.
- Income tax on business income computed based upon corporate taxable net income is required in West Virginia.
- Personal income tax, based on a person's income, ranges from 3 percent to 6.5 percent of taxable income in West Virginia.
