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.
| Read PDF
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