Eligible businesses may file state reports every two years

Eligible businesses may choose to file a report every two years instead of every year. This option is for corporations, limited partnerships, and domestic or foreign limited liability companies authorized to do business in West Virginia. A business must have filed all required annual reports on time for five straight calendar years and be in good standing when it elects. The election does not erase earlier missed reports or unpaid fees. The election is made with the fifth timely annual report. A business that already meets the five-year requirement may elect between January 1 and July 1 of the calendar year after the law takes effect. After electing, it skips the next year's annual report; its first biennial report is due in the second calendar year after the election.

The Secretary of State may waive or reduce an administrative late fee. This applies when a business is late filing or paying an annual or biennial report fee. The Secretary of State may do this when circumstances beyond the filer’s or its agent’s control caused the late filing or payment. The discretion applies to administrative late fees; filing deadlines and other fees still apply. The Secretary of State considers whether to waive or reduce the fee when addressing a late report or payment.

The Secretary of State must create a logo and an application process for veteran-owned businesses to seek approval to use it. A veteran-owned business must be at least 51 percent unconditionally owned by qualifying veterans, active-duty service members, or their spouses. A publicly owned business must meet the same ownership share through stock. The logo may identify a business as veteran-owned, but may not suggest state endorsement. The Secretary of State must set criteria for veteran-owned status. Applicants may choose to contribute to the West Virginia Veterans’ Home Loan Mortgage Fund. The Secretary of State must develop the logo by July 1, 2026, create an application within 90 days after the law takes effect, and post application instructions within 60 days after creating the logo.

Certain veteran-owned and active-duty member-owned businesses do not pay the annual report fee for their first four years after initial registration. The provision covers veteran-owned businesses commenced on or after July 1, 2015, and active-duty member-owned businesses commenced on or after July 1, 2021. The businesses must still meet filing deadlines and pay other fees required by this section. The four-year period begins at initial registration.