This bill proposes the addition of a new article to the Code of West Virginia, establishing a tax credit for independent West Virginia businesses that participate in the official motorist services logo signing program. The legislation recognizes the vital role that independently owned businesses play in the state's economy, particularly in rural areas, and aims to alleviate the financial burden of participating in the program. The tax credit will cover 100% of eligible expenses paid to the West Virginia Division of Highways for signage, while ensuring that the program focuses on local economic development rather than benefiting larger, multi-location enterprises.

To qualify for the tax credit, businesses must meet specific criteria, including being independently owned, operating fewer than five locations in West Virginia, and not being bound by national branding standards. The bill outlines the certification process for taxpayers claiming the credit, requiring them to provide documentation to verify their eligibility. Additionally, the Tax Commissioner is authorized to establish rules for administering the program, which is set to take effect on January 1, 2027, for taxable years beginning thereafter.

Statutes affected:
Introduced Version: 11-13NN-1, 11-13NN-2, 11-13NN-3, 11-13NN-4, 11-13NN-5, 11-13NN-6