The bill amends the Code of West Virginia to support small businesses, particularly home-based enterprises, through the establishment of the Small Business Protection Act. It exempts independent contractors and sole proprietors from needing a business license if their annual gross revenue is below $2,500 and they do not have a permanent physical location within municipal limits. Additionally, the legislation sets a revenue threshold that allows certain businesses to be exempt from business and occupation taxes and privilege taxes, thereby facilitating the growth of home-based businesses while providing necessary definitions, permitted uses, and reasonable regulations.

Furthermore, the bill introduces a business registration tax of $30 for each annual business registration certificate, effective for registrations starting on or after July 1, 1999, and requires a separate certificate for each fixed business location. It also outlines exemptions for activities generating gross income of $4,000 or less and specifies that businesses selling from vehicles must obtain separate registration certificates. A new penalty structure is established for individuals who fail to obtain the required business registration certificate, imposing a $15 penalty per location if they apply for registration within 15 days of receiving notice from the Tax Commissioner. Overall, the bill aims to streamline the business registration process while ensuring compliance with tax obligations.

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