The bill amends the Code of West Virginia to support small businesses, particularly independent contractors and sole proprietors, by introducing exemptions from business licenses for those earning less than $2,500 in annual gross revenue. It facilitates the establishment of home-based businesses by defining their parameters and outlining permissible activities, while also allowing municipalities to impose reasonable regulations without unnecessary conditions like rezoning or additional licensing. Furthermore, the bill creates the Small Business Protection Act, which mandates that state agencies consider the unique challenges faced by small businesses when developing regulations, aiming to reduce regulatory burdens and promote job creation.

Additionally, the bill revises existing laws regarding business registration and taxation, establishing a business registration tax of $30 for each annual business registration certificate, effective for registration periods starting on or after July 1, 1999. It clarifies that a separate registration certificate is required for each fixed business location, with exemptions for individuals based on their gross income. Specifically, individuals with gross income of $4,000 or less are exempt from registration and tax, while those with gross income of $10,000 or less may be exempt from tax but still need to register. The bill also outlines reduced penalties for those who fail to obtain a business registration certificate, aiming to streamline the registration process and clarify tax obligations for various business activities in the state.

Statutes affected:
Introduced Version: 8-40-1, 8-40-2, 8-40-3, 8-40-4, 8-40-5, 8-40-6
Committee Substitute: 8-40-1, 8-40-2, 8-40-3, 8-40-4, 8-40-5, 8-40-6
Engrossed Committee Substitute: 8-40-1, 8-40-2, 8-40-3, 8-40-4, 8-40-5, 8-40-6
Enrolled Committee Substitute: 8-40-1, 8-40-2, 8-40-3, 8-40-4, 8-40-5, 8-41-1, 8-41-2, 8-13-4, 8-13-5, 11-12-3