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STATE OF WEST VIRGINIA BOARD OF PROFESSIONAL SURVEYORS 738 Airport Road, Sutton, West Virginia 26601 Telephone: (304) 765-0315 Fax: (304) 765-0316 Website: www.wvbps.wv.gov Email: wraps WV.gov ATTACH
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What is wvbps?
The acronym 'wvbps' stands for West Virginia Business Personal Property Tax Return. It is a form that businesses in West Virginia are required to file in order to report their business personal property and pay taxes on it.
Who is required to file wvbps?
All businesses operating in West Virginia, including corporations, partnerships, sole proprietors, and LLCs, are generally required to file the wvbps.
How to fill out wvbps?
To fill out the wvbps, businesses need to provide information about their business personal property, including its description, acquisition date, and original cost. They also need to calculate the assessed value of the property and compute the corresponding tax. The completed form can be submitted online or by mail to the appropriate tax authorities.
What is the purpose of wvbps?
The purpose of wvbps is to ensure that businesses in West Virginia accurately report and pay taxes on their business personal property. It helps the state assess the value of these assets and collect the appropriate taxes to fund public services and infrastructure.
What information must be reported on wvbps?
Businesses filing the wvbps must report information such as the description and quantity of each item of business personal property, its acquisition date, original cost, and current assessed value. Additionally, they must provide details on any exemptions or deductions they are eligible for.
When is the deadline to file wvbps in 2023?
The deadline to file the wvbps in 2023 is usually April 1st. However, it is recommended to verify the exact deadline with the West Virginia tax authorities as it may be subject to change.
What is the penalty for the late filing of wvbps?
The penalty for the late filing of wvbps in West Virginia can vary. Generally, a penalty is assessed based on a percentage of the tax due for each month or part of a month that the return is late. It is advisable to consult the specific guidelines provided by the West Virginia tax authorities for the accurate penalty information.
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