Taxes

December 16, 2019 by Sean O'Leary
$400 Million Business Personal Property Tax Cut is Back on the Menu

With the 2020 legislative session looming, now is as good a time as any to check in on one of the legislature's favorite proposals, eliminating the business personal property tax. Once again, the elimination of the tax is at the top of legislative priorities. And with state revenues stalling and budget cuts likely, the nearly…

Read More
November 7, 2019 by Sean O'Leary
Higher Education Funding Cuts Have Hurt Students and the State’s Future

With faltering revenue collections, Governor Justice has ordered a $100 million budget cut for the current budget year, with more cuts likely for the FY 2021 budget. And, as with past budget cuts, higher education appears to be a prime target. This is all happening on the heels of a new report from the Center…

Read More
July 15, 2019 by Ted Boettner
It’s Not Too Late to Fix Our Future

A recent article in Vox by David Roberts highlights how a coal mining bust in Wyoming is resulting in "vulture capitalism" as investors buy up bankrupt coal mines while coal executives receive large bonuses and the communities in Wyoming struggle with thousands of laid off workers, lost pensions, environmental degradation, and an undiversified economy. This…

Read More
May 29, 2019 by Sean O'Leary
Five Major Federal Tax Credit Proposals and What They Would Mean for West Virginia

Lawmakers in Congress have recently announced five different proposals to either expand existing tax credits of create new ones. While each proposals has its differences, each one would also benefit low- and moderate-income people, particularly in West Virginia. Low- and middle-income West Virginians would see much greater benefits under any of the tax credit proposal…

Read More
April 15, 2019 by Jessie Ice, Kelly Allen
The Working Families Tax Relief Act Would Raise Working People’s Income and Address Issues of Child Poverty

Working families with low- and moderate-incomes often struggle to keep afloat  and many childless adults are often taxed into poverty. On April 10, 2019, Senators Sherrod Brown, Michael Bennet, Richard Durbin, and Ron Wyden introduced the “Working Families Tax Relief Act” that aims to expand both the Earned Income Tax Credit (EITC) as well as…

Read More
March 29, 2019 by Sean O'Leary
Natural Gas Property Tax Case Could Costs Local Governments Millions

The State Supreme Court heard several cases earlier this month on oil and natural gas property taxes that could have a significant impact on local government and school district finances, and also potentially impact the state budget. At issue is how the State Tax Department calculates production expenses on natural gas wells. When valuing oil and…

Read More
March 1, 2019 by Sean O'Leary
Will a Severance Tax Cut Put Coal Miners Back to Work? (Probably Not)

On Crossover Day, the West Virginia House of Delegates passed two bills that have the intended purpose of boosting coal production and putting coal miners back to work. Unfortunately, they chose to do so in a very ineffective and expensive way, through cuts and rebates to the severance tax. HB 3142 would cut the severance…

Read More