The "Tax Efficiency Act of 2026" amends the Code of West Virginia to authorize the Tax Commissioner to design and implement an electronic data processing system aimed at improving the filing and collection of municipal business and occupation or privilege taxes. This system will provide municipalities with an optional administrative platform while allowing them to retain legal authority over their local tax administration, including audits and collections. The Tax Commissioner will charge an administrative fee of 1% of gross collections from participating municipalities to cover the system's development and maintenance costs.

Additionally, the Act establishes a threshold for the system's activation, requiring that participating municipalities collectively anticipate over $30 million in annual revenue from business and occupation taxes. The system will be implemented on July 1 following a 12-month period after this revenue threshold is met. The Act also includes provisions for tax credits to incentivize new and expanding businesses, as well as guidelines for the assessment and collection of taxes, ensuring that municipalities do not impose multiple taxes on the same gross income.

Statutes affected:
Introduced Version: 8-13-5
Committee Substitute: 8-13-5
Engrossed Committee Substitute: 8-13-5
Enrolled Committee Substitute: 8-13-5