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W.Va. Legislative News from WCHS-TV8 Eyewitness News Online

Lawmakers approve tax breaks for business
March 08, 2008 11:40 PM

CHARLESTON, W.Va.
The Legislature has approved tax breaks for businesses that advocates say will save employers 149 million dollars each year once fully implemented.



The bill would cut business income tax from 8.75 percent to 6.5 percent by 2015.

To safeguard the state, tax cuts would be delayed if the state's emergency reserves dip below 10 percent of general revenue.

The bill also calls for erasing the business franchise tax by 2015.

An income tax credit in the bill would offset most property taxes on manufacturing inventory.




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WV LEGISLATURE

Lawmakers complete 2008 session
Lawmakers approve tax breaks for business
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Legislature signs off on hunting classes in schools
Sparse crowds, tardiness and food mark Legislature's last day
Bill on free clinics' drug dispensing heads to Manchin
W.Va. to require drug-free public works sites
Teachers offered $1,600 raises as session ends
Lawmakers to work on new state budget next week
Legislature OKs tax break for aircraft
Helmick doesn't see much hope for teacher retirement bill
House combines, advances tax breaks for business
Community- technical colleges would be free agents under bill
Bill that ends stream compromise goes to Manchin
Elevator safety bill advances
Bill would post signs dubbing Fayetteville 'coolest small town'
Hopes dim for municipal pension relief measure as time runs out


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