West Virginia 4% personal income tax cut approved
(The Center Square) – West Virginia’s 4% income tax reduction was approved and signed by Revenue Secretary Larry Pack and State Auditor JB McCuskey, set to go into effect Jan. 1.
The reduction was stipulated by law because the state’s tax collections exceeded inflation. It is the second year that the personal income tax rate dropped.
West Virginia beat revenue estimates by nearly $827 million last fiscal year.
“It only makes sense that as West Virginia thrives, our people thrive and deserve a share of that prosperity,” Gov. Jim Justice said. “We have so much to be proud of, but there’s more work ahead. While it won’t happen during my time as your Governor, our state is on a pathway to eliminating its personal income tax—so, let’s keep the ball rolling in the same direction.”
Justice requested the West Virginia Legislature also consider an additional 5% personal income tax cut.
“We know there is still work to be done, however, to ensure every child in West Virginia receives an education, and every citizen has access to clean water, good roads, the Internet and essential services for a better life,” McCuskey said. “Today, we are proud of the outstanding work done, over the last decade, to allow us to return nearly a hundred million taxpayer dollars back to the hard-working people of West Virginia.”
