Starting A New Business
Basic Information

The three most commonly recognized forms of business are sole proprietorships, partnerships and corporations.  Closely related to the forms of business are franchises.  Choosing the legal structure (form) of the business is an important basic step.  The advantages and disadvantages of each, including legal and tax considerations, should be examined carefully.

The sole proprietorships is usually defined as "a business which is owned and operated by one".  It is the most widely used form of small business organization.

The partnership is defined as "an association of two or more persons to carry on as co-owners of a business for profit."  Since there are many variations of partnerships, it would be wise to discuss them with a lawyer.  A partnership agreement also should be written by a lawyer so that the agreed-upon rights of the partners are spelled out.  This may solve problems later.

The corporation is a "distinct legal entity, separate from the individual who owns it."  The corporation's life is independent of the owner's lives and it is liable for debts contracted by it.  It is the most expensive and most difficult form of business to get started and must be charted by the Secretary of State.  Once the charter or certificate of incorporation is issued, then the stockholders meet to adopt the bylaws and elect a board of directors.  Usually, this is done under the direction of a lawyer.

If a business has 12 or more full or part-time employees it must comply with state EEO/AA regulations.  Federal laws must also be followed if 15 or more full or part-time employees are hired.  The West Virginia Human Rights Commission should be contacted to insure compliance.

Record keeping is a vital part of any business.  Pertinent data should be kept for tax purposed, to substantiate a request for credit and to back up previous business experience if the business is offered for sale.  The single biggest advantage, though, is to have the information in a form that can be readily used as a guide to increase profits.

Keeping tract of inventory is a necessary part of record keeping.  It also ties into tax reports, etc. Stock should be controlled so that a balance of items is available for sale at all times.

The American Marketing Association defines advertising as "mass, paid communication whose purpose is to impact information, develop attitudes, and induce favorable action for the advertiser."  Advertising is done though different media.  Remember that positive "word-of-mouth" advertising can go a long way to promote small business.

Regardless of the form of business entered, it is important that the appropriate permits and licenses be obtained.

Permits, Licenses, Regulations                

Business & Occupation Tax              
Corporate License
Fire Fee/Floodwall Fee

Primary Contact for all above is:
Parkersburg Finance Department

Addresses

City of Parkersburg                    
Finance Department                      
P.O. Box 1627                          
Parkersburg, WV 26102                  
304-424-8563                         
Fax. 304-424-8403                      

Wood County Assessor               
Court House                           
Parkersburg, WV 26101
304-424-1875
Fax. 304-424-1786

City of Vienna
609 29th Street
Vienna, WV 26105
304-295-6081
Fax. 304-4138

City of Williamstown
City Building
Williamstown, WV 26187
304-375-7761
Fax. 304-375-7765

WV Attorney General
Capitol Bldg.1, Room E-26
Charleston, WV 25305
304-588-2021

WV State Tax Department
Division of Excise & License Taxes
1001 Lee Street East
Charleston, WV 25301
304-558-8500