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Business tax break measure proposed in West Virginia

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February 17, 2010

CHARLESTON, West Virginia: A legislatively-referred constitutional amendment that calls for allowing counties to give new businesses a tax break on their inventory and equipment has been introduced to the West Virginia Legislature this month. The measure, also known as House Joint Resolution 101, is supported by the governor and is currently under consideration by the House. According to Mark Muchow, state Deputy Secretary of Revenue, "There’s a very strong correlation between economic growth and the lack of taxes on business capital formation. The idea is to generate additional economic growth over time in West Virginia, which will produce additional tax revenues."[1]

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