The plan includes a phase out of the Business Inventory tax in machinery, equipment, and and inventory. It’s aimed at furthering the manufacturing in West Virginia, an issue we always watch! It would be a cut of $300m total each year, and the proposed idea to makeup the shortfall includes a raise in the sales and tobacco taxes.
We oppose putting the majority of taxes on the people of West Virginia while continuing to give industry breaks. Read more about the proposal on the MetroNews link above!