The proposed bill aims to amend the Code of West Virginia by introducing a new article, designated as 11-13-32, which outlines the Business and Occupation Tax Reform Act. This legislation clarifies the conditions under which business and occupation taxes apply to businesses operating within incorporated municipalities. Key provisions include stipulations that businesses must pay taxes only in municipalities where they maintain a permanent physical presence, and they are exempt from such taxes in locations where they do not have a long-term establishment or are performing brief, one-time jobs. Additionally, businesses will not be required to file quarterly taxes if no tax is owed.

The bill also addresses the allocation of tax responsibilities for businesses with multiple locations, stating that revenues earned outside municipal boundaries will be taxed based on the business's total gross revenues at its permanent address. Furthermore, it specifies that if a business operates in an unincorporated area, no county-level business and occupational tax will be assessed. The overarching goal of this legislation is to reduce the compliance burden on small businesses, promote economic development, and modernize West Virginia's tax policy to ensure fairness and simplicity.

Statutes affected:
Introduced Version: 11-13-32