Taxes

State Sales Tax 6 Percent
Local Income Tax There is no city or county income tax.
State Income Tax West Virginia State Income Tax
Local Property Tax To download a brochure on how to estimate your real estate taxes, personal property taxes, dog tags and license fees and more go to: www.assessor.org and click on the “levy rates” button.

Business Taxes

The state of West Virginia presently imposes two primary business taxes: the Corporate Net Income Tax and the Business Franchise Tax. The Corporate Net Income Tax rate is 9 percent of the federal taxable income of the corporation for the year. The measure of the Business Franchise Tax is the net worth of the corporation or partnership as determined for federal income tax purposes. The tax is levied at the rate of .70% or $50, whichever is greater. Three additional taxes are levied upon specialized industries. A Severance Tax is imposed on the production of natural resources. The Business and Occupation Tax, a gross receipt levy, is imposed upon utilities and electric power producers. A Telecommunications Tax is imposed upon telephone companies.

It should be noted that West Virginia offers many tax incentives to encourage business and industry to locate, expand, or modernize facilities in this state. Evaluation of West Virginia’s tax laws and comparisons with those of other states frequently reflect an overall lower tax cost to businesses in West Virginia. The State Department of Tax and Revenue is supportive of economic development and maintains a staff of tax incentive specialists to provide detailed tax projections. The Department can also provide tax comparisons between West Virginia and other localities.