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Article: Our views: Cut a tax, bring in jobs; Corporate net income taxes should be pared back, if slowly
- Article from:
- Charleston Daily Mail
- Article date:
- February 28, 2007
- Author:
CopyrightCopyright 2007 Charleston Daily Mail. Provided by ProQuest LLC. (Hide copyright information)
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THE state Senate Finance Committee has a good plan to cut the
corporate net income tax rate from 8.75 percent to 6.5 percent over
the next two years.
That would drop West Virginia from having the second-highest
corporate net income tax in the region to having the second-lowest.
Another bill would fade out the state's business franchise tax
over seven years.
State government could downsize through attrition to offset the
considerable loss of revenue, Finance Chairman Walt Helmick, D-
Pocahontas, told a public broadcasting reporter.
Certainly, these changes would be a good start to the business tax
reform that has been talked about, but not acted upon in any
substantial way, for many years. ...