Bill > HB2027

This bill proposes the following key provisions: This bill reduces the personal income tax rate on nonbusiness personal income, such as wages, salaries, and pensions, while increasing the rate on unearned and business personal income, such as interest, dividends, and business profits. It establishes a refundable sales tax relief credit for low-income households, phases in higher excise tax rates on tobacco products and e-cigarettes, and imposes a new excise tax on luxury item sales like jewelry, art, and high-end vehicles. The bill also increases the wholesale markup percentage for liquor sold to retail licensees and raises the liter tax on wine. Overall, the bill aims to restructure the state's tax system by lowering some personal income tax rates, while raising other excise taxes and creating a new luxury item tax.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=2027&year=2021&sessiontype=RS&btype=bill