NFIB State Director Gil White released the following statement in response to today’s vote in favor of the largest tax cut in state history:
“This is a big relief for West Virginia’s small business owners. Cutting the personal income tax really helps small businesses because most small businesses are organized as pass-through entities, meaning their owners pay taxes at the individual rather than the corporate rate.
“The 50% rebate on property taxes for small businesses would also bring immediate relief for businesses still recovering from the economic setback that began three years ago this month with the onset of the COVID-19 pandemic. The worst of the pandemic may be behind us, but local businesses are still dealing with supply chain and labor issues and higher prices on everything from raw materials to the paper customer receipts are printed on.
“On behalf of our small business members, I want to thank Governor Justice and legislative leaders for working together to pass this historic legislation. It will, without a doubt, help local businesses not only recover but continue to grow and create jobs.”
