Bill > HB4954

This bill proposes to create a new section in West Virginia law, §11-13-32, to offer a tax incentive to businesses. Specifically, companies that employ at least 75% of their workforce as residents of West Virginia will be eligible for a 2.5% reduction in their overall business and occupation tax rate, which is a tax levied on the gross receipts of businesses. To qualify for this reduction, companies must be able to provide proof that at least three-quarters of their employees are West Virginia residents, and the West Virginia Department of Tax and Revenue may issue further guidance on how this incentive will be implemented. This tax reduction is set to take effect for the 2026 tax year and will continue in subsequent years, with the Legislature finding that incentivizing companies to hire local workers benefits the state's economy.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=4954&year=2026&sessiontype=RS&btype=bill