Bill > HB2060

This bill modifies existing West Virginia law to create a tax exemption for agricultural cooperative associations by expanding the definitions and scope of cooperative activities. Specifically, the bill adds language to include the purchase or acquisition of insurance for agricultural equipment and products as a qualifying activity for cooperative associations. The bill also explicitly exempts these associations from certain conflicting laws, particularly the business and occupation tax. The legislation defines "agricultural products" broadly to include horticultural, livestock, dairy, and other farm products, and defines a "cooperative association" as a corporation organized under specific state chapters that can be structured as a business or nonprofit entity. The bill ensures that exemptions previously available to individual agricultural producers will now also apply to products delivered by members through their cooperative association, effectively providing tax and legal benefits to help agricultural cooperatives operate more efficiently and support farmers' collective economic interests.

Business and Industry, Government Affairs

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=2060&year=2025&sessiontype=RS&btype=bill