West Virginia imposes a tax on business account and equipment. This tax is a absolute impediment to alluring or accretion new business.
A aldermanic board is because eliminating this tax. Few if any added states accept a tax that has a abrogating appulse on business development. Botheration is that this claimed acreage tax on accessories and account brings in about $270 actor per year. This money is acclimated to accounts education, bounded government and accompaniment government.
Commerce Secretary Woody Thrasher is on a mission to annihilate the acreage tax on inventory, accouterment and equipment. He says “the tax is one of the amount issues that makes West Virginia uncompetitive with added states. Pennsylvania and Ohio do not accept a tax on accouterment and accessories and Virginia has a low amount with abounding exemptions. Alone 14 states appoint a tax on business account and alone seven states tax manufacturing.” West Virginia taxes both.
The accompaniment of Michigan is experiencing an bread-and-er turnaround by casual a right-to-work law forth with eliminating their claimed acreage tax. While we accept anesthetized a right-to-work law; we charge a vote of the bodies to annihilate the claimed acreage taxes on business. We aboriginal charge to alter the absent acquirement from addition source. This money could appear from eliminating some of the exemptions from our customer sales tax on assertive businesses.
It is my achievement and acceptance that the Legislature will appear up with a band-aid to this problem.
Delegate Frank Deem
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