Public News Service – The governor and legislative leaders again are considering repealing the personal property tax for businesses. Read full article.
But according to the West Virginia Center on Budget and Policy, it’s unlikely to bring job growth.
Last year, lawmakers looked at ending that tax on inventory, machinery and equipment.
Sean O’Leary, a senior policy analyst the center, says most states tax either inventory, or machinery and equipment, or both.
He says comparisons have found no real connection to growth no matter what states do.
“Since the end of the recession, there’s no real clear link between states that have this tax, states that don’t have this tax, and growth rates,” he points out. “And states that have neither of the taxes have actually grown less than the states that have both.”
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