Inventory Tax Bill

At this writing, the Legislative Session is still underway with Members of the WV Senate having introduced SJR 9, the first step in passing a constitutional amendment to do away with business property taxes on inventory, machinery and equipment.

Gov. Jim Justice called for removing the equipment and inventory tax during his State of the State address, and removing the tax is one of the top priorities of Senate President Mitch Carmichael, R-Jackson and House Speaker Tim Armstead, R-Kanawha.

According to state Commerce Secretary Woody Thrasher, the equipment and inventory taxes are one of the biggest roadblocks to attracting manufacturers to the Mountain State.