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WVMA Winter Conf 2019 1040x150 2

“Here’s the good news: West Virginia’s tax structure ranks above average in our latest edition of the State Business Tax Climate Index, to the credit of bipartisan efforts of tax reform over several successive gubernatorial administrations,” Jared Walczak, director of state policy at the Tax Foundation, said in a Nov. 1 blog post. “And here’s the bad news: several sectors of the economy have been left behind by these reforms, subject to outmoded and uncompetitive taxes that make it hard for them to invest and grow in the Mountain State. That is particularly true of the manufacturing sector, due to the state’s taxation of machinery, equipment, and inventory, and, at the local level, an antiquated tax on business gross receipts that can hit manufacturers and distributors particularly heavily.”

West Virginia Manufacturers Association President Rebecca McPhail said the Tax Foundation’s latest analysis of taxes on manufacturing validate long-voiced concerns from WVMA members. But she said state government leaders have acknowledged the problem and are working to find a solution

“The Tax Foundation is reporting something that we in the manufacturing industry long have known – West Virginia’s tax structure unfairly punishes manufacturers with a tax that the vast majority of other states do not assess,” McPhail said. “Our tax on inventory, machinery and equipment is a continual impediment to business retention, growth and development. But we are optimistic that this appears to be a priority of our state leaders. The WVMA looks forward to working together with stakeholders to develop a fiscally responsible path forward that addresses this long-standing challenge.”

For more information, contact Rebecca McPhail at (304) 342-2123.

Upcoming Dates

21 Jan
KVAIM (Host: Ashland)
Date 01.21.2020 5:30 pm - 8:00 pm

Edgewood Country Club
1600 Edgewood Dr. Charleston, WV  25302

 

24 Jan
ESH Committee
Date 01.24.2020 10:30 am - 12:00 pm

Dinsmore & Shohl LLP
707 Virginia Street, East, Suite 1300
Charleston, WV   25301

28 Jan
CIC Meeting
Date 01.28.2020 9:00 am - 11:30 am

Location: WVMA Office, 2001 Quarrier Street, Charleston, WV

29 Jan
Gov Affairs/Human Resources
Date 01.29.2020 10:00 am - 12:00 pm

WVMA Office
2001 Quarrier Street, Charleston, WV  25311

18 Feb
KVAIM (Host: WV American Water)
Date 02.18.2020 5:30 pm - 8:00 pm

Edgewood Country Club
1600 Edgewood Drive, Charleston , WV  25302