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Firm Ownership Requirements

West Virginia firm ownership requirement are defined as:
  1. Any professional limited liability company organized pursuant to article thirteen, chapter thirty-one-b of the W. Va. Code, consisting of one or more licensed certified public accountants or licensed public accountants.  
  2. Any other firm where:

    1. a simple majority of ownership of the firm, in terms of financial interests and voting rights of all partners, officers, shareholders , members or managers, belongs either to:
    • Certified public accountants holding a certificate under Section 12, Chapter 30 of the W.Va. Code or the equivalent provision of another state; or  
    • Public accountants who have met the continuing professional education requirements and not subject to a CPE exemption or limitation or similar privileges of another state.

2. All owners of the firm who are not certified public accountants or public accountants are active participants in the firm or in affiliated entities.

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