Wheeling Intelligencer – The House Finance Committee on Wednesday took a first look at a possible amendment to the West Virginia Constitution paving the way for eliminating the business and inventory tax. Read full article.
The proposal is House Joint Resolution 17. The resolution proposes an amendment to the state Constitution stating that the taxation of tangible inventory, machinery and equipment as personal property used for businesses can only be done by the Legislature.
If the resolution is passed by the House of Delegates and the state Senate, voters would get to decide on whether to approve the amendment during the 2020 general election. If the amendment is approved, it would allow a future legislature to remove the tax, which is written into the state Constitution.
