West Virginia Tax Modernization Project Seeks Public Proposals 

The West Virginia Tax Modernization Project, chaired by Commissioner Morris, will hold a public meeting on November 20, 2009 at the Charleston Marriott Town Center, located at 200 Lee Street East in downtown Charleston, West Virginia. Preliminary proposals developed by the Tax Modernization Project will be discussed for additional study, and the public will have an opportunity to comment on the proposals and to submit their oral or written tax modernization ideas and proposals at the meeting, or by emailing proposals to wvtmp@wv.gov.

“Tax Modernization Project members have finished reviewing the recommendations from the 2006 report that have not yet been adopted,” Secretary Helton said. “Now we’re asking the public, private enterprise and labor to help explore changes that will further improve West Virginia’s tax structure.”

The goal of the Tax Modernization Project is to improve and modernize West Virginia taxation. With this goal in mind the following four areas have been identified as possible areas to focus on next:

• Telecommunications tax changes;
• Senior Citizen Tax Credit simplification;
• Personal Income Tax changes for low income families; and
• Other tax issues such as property tax and interest on tax and other assessments.

“Internal subcommittees have been formed and have begun to research their areas of expertise.  At the November 20^th meeting, these subcommittees will present their ideas on four areas that the Tax Modernization Project has previously identified as areas in need of change,” Chairman Morris said. “We’re encouraging the public to comment on these areas and to submit any other proposals as we seek to introduce changes for tax modernization and improvement during the upcoming legislative session.”

In 2006, Governor Manchin developed the West Virginia Tax Modernization Project to improve taxation in West Virginia. Based upon the 2006 report to the Governor, numerous policy and State tax code changes have occurred resulting in tax rate reductions, elimination of certain taxes, a simplified State tax structure, and a more efficient and fair tax system in the State. Some of these changes include:

·    Reduction of the food tax;

·    Creation of the Family Tax Credit

·    Elimination of the corporate license tax;

·    Doubling of a homestead tax credit for low income seniors;

·    Reduction of the corporate net income tax, which began in 2007, from

    9.00% to 6.5% in 2014;

·    Phase out of the business franchise tax, which began in 2007, from 0.70% to complete elimination of the tax   in 2015;

·    Simplification of certain tax filing requirements through the Tax Department’s integrated tax system;

·    Enactment of safeguards to prevent abuse of certain tax credits;

·    Elimination of the State’s alternative minimum tax in 2010; and

·    Enactment of tax withholding provisions to ensure that residents and non-resident are treated equally. 

The Tax Modernization Project meeting will occur from 10:30 am to 1:00 pm on November 20, 2009 at the Charleston Marriott Town Center located at 200 Lee Street East, in downtown Charleston, West Virginia. Written and oral comments and proposals from the public will be accepted at the meeting and by e-mail to wvtmp@wv.gov prior to and after the meeting.

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