West Virginia New Business Tax Amendment (2010)

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A West Virginia New Business Tax Amendment did not appear on the November 2, 2010 statewide ballot in West Virginia as a legislatively-referred constitutional amendment. The proposed measure called for allowing counties to give new businesses a tax break on their inventory and equipment.[1]

In 2010, according to state officials, Ohio and Pennsylvania don't collect an business equipment tax. Maryland and Virginia collect taxes but at lower rates than West Virginia.[1]

The tax cuts were proposed by Gov. Joe Manchin. Mark Muchow, state Deputy Secretary of Revenue, said, "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."[2]

The measure failed to gain the support from both the House and the Senate to qualify for the 2010 statewide ballot.[3]

Path to the ballot

On February 17, 2010 the House approved the proposed measure 95-1. However, it was not approved by the Senate and therefore did not appear on the November 2, 2010 ballot. Had both houses approved the measure, voter approval would have been the first step in implementing the proposed legislation. Lawmakers would have to draft legislation detailing specifically what the cuts would include.[4][3]

See also

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