Tax & Budget
Reports / Fact Sheets / Analysis

High Costs, Dubious Benefits: The Fiscal Impact of Tax Cuts in SB 680 and SB 465 (Full Report)

This Report analyzes how recent tax changes and new proposed business tax cuts will lead to either cuts in government services or require tax increases in the near future. The report shows if SB 465 and SB 680 are adopted it will cost the state $531 million in lost revenue by FY 2017. Moreover, the report highlights the long-term consequences of proposed business tax cuts and recently enacted tax cuts.  The lost state revenue due to business tax cuts enacted over the last two years and those being proposed in SB 465 and SB 680 is over $1.2 billion over eleven years or $210 million per year once fully implemented.  
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Proposed Corporate Tax Cuts: Analysis of SB 680 and SB 465 (Fact Sheet)

SB 680 and SB 465 propose to reduce the corporate net income tax rate and the business franchise tax rate resulting in a fiscal impact of $121 million.  What does that mean to the state budget?  How will the state handle this loss of revenue?  Who will pay?  Are taxes bad for economic development?  | Read PDF

Combined Reporting: How It Works and Why We Still Need It

Last year the state legislature passed a law which will make West Virginia a “combined reporting” state for corporate tax purposes effective in 2009.  The net loss to the state General Revenue will be $43 million annually. | Read PDF