Showing 31–36 of 36
bills
All budget & taxes bills
HB 4776 would increase the maximum allowable hotel occupancy tax rate from 6% to 8% for local governments (cities or counties) in West Virginia. This change directly affects hotels and visitors, as the tax applies to the price paid for a hotel room stay, excluding meals, phone charges, or other non-room fees. Local governments would need to hold a public hearing before raising the tax rate and must follow specific procedures for implementation. The bill modifies existing law (§7-18-2) to allow this higher rate for both municipal and county ordinances.
HB 4954 would reduce West Virginia's business and occupation tax rate by 2.5% for companies employing at least 75% of their workforce as state residents. It directly affects eligible businesses meeting the residency threshold, requiring them to verify workforce composition to qualify. The tax reduction applies to the overall business and occupation tax rate starting with the 2026 tax year. Companies must provide evidence of workforce residency to claim the reduction, with implementation guidance to be issued by the West Virginia Department of Tax and Revenue.
SB 624 extends the expiration date of a tax modification that reduces personal and corporate income tax for qualified opportunity zone businesses in West Virginia. It directly affects businesses newly registered in West Virginia between January 1, 2019, and January 1, 2024, that operate within designated opportunity zones. The bill prevents the current 2024 sunset date from taking effect, allowing these businesses to continue claiming the tax reduction for the full 10-year period authorized under existing law. This change ensures ongoing eligibility for the tax benefit without requiring new business registrations.
HB 4928 prohibits counties and municipalities from taxing residential rental properties at higher rates than owner-occupied homes. It requires all property taxes on rental properties to match the rate for owner-occupied housing and bans additional taxes based on zoning. The bill directly affects landlords who own rental properties and aims to reduce their tax burden, potentially helping keep rents stable. It does not change sales or service taxes for rental businesses. The legislation focuses on changing property tax assessment rules, not on broader rent control or other housing policies.
Senate Bill 397 would reduce West Virginia's corporate income tax rate to 6.5% for tax years beginning on or after January 1, 2027. It directly affects corporations operating in the state or earning income from West Virginia sources, excluding those already exempt under current law. The bill includes a condition that the tax reduction would be suspended for one year if the state's reserve funds fall below a specified threshold relative to the budget. This change follows a series of previous rate reductions in the state's corporate tax structure.
SB 156 changes West Virginia's motor vehicle property tax system by replacing tax credits with direct refunds for eligible owners. It defines "eligible taxpayers" to include vehicle owners (including those with financing or leases), lessors who pass savings to lessees, and pass-through entity owners, while excluding motor vehicle dealers on retail inventory. The bill streamlines processing by requiring counties to report eligible claims weekly and mandating refunds within 30 days via check or direct deposit. This update simplifies the current system by shifting from credits applied against income tax to immediate cash refunds for timely-paid property taxes.
