Bill > HB2816

Introduced Session

The purpose of this bill is to solve the immediate fiscal crisis and stabilize the budget of the State of West Virginia. This bill increases the sales and service tax and use tax rates by one-half cent from 6% to 6.5%, with an expiration date of June 30, 2020, if certain parameters are met with respect to the revenue shortfall reserve funds. The bill also limits the exemption or exception of certain professional services and advertising services from the sales and services tax and use tax, and eliminates the exemption from sales tax for certain sales of materials acquired for use in state highway projects. This bill creates and provides for the operation of an annual privilege tax of two tenths of 1% on the gross income of entities engaging in commercial activity in this state, exempting certain entities from the tax, and providing for an expiration date of June 30, 2020 if certain parameters are met with respect to revenue shortfall reserve funds. In addition, this bill increases the rate of the barrel tax on nonintoxicating beer and eliminates the film industry tax credit. Finally, this bill establishes a commission to study feasibility of eliminating West Virginia personal income tax.

AI Summary

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Tim Miley (D)*, 

House rejected (Roll No. 225) (on 03/28/2017)

Official Document