This bill proposes an amendment to the Code of West Virginia, specifically targeting the fees associated with the registration of new for-profit businesses or domestic corporations. The key provision of the bill is the insertion of new language that allows the Secretary of State to designate up to three days per year during which new, for-profit domestic corporations that reside in West Virginia can register their business activity without incurring the $100 license fee for the first year. This initiative aims to encourage the establishment of new businesses within the state.

In addition to this new provision, the bill maintains the existing fee structure for various business-related services provided by the Secretary of State, including fees for filing and recording documents related to business entities. The overall intent of the bill is to reduce the financial burden on new businesses, thereby fostering economic growth and entrepreneurship in West Virginia.

Statutes affected:
Introduced Version: 59-1-2