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Article: Corporate Net Income Tax Cut May Come 2 Years Early
- Article from:
- The State Journal
- Article date:
- February 29, 2008
- Author:
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Copyright informationCopyright State Journal Corporation Feb 29, 2008. Provided by ProQuest LLC. (Hide copyright information)
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CHARLESTON - A plan to reduce the corporate net income tax is moving forward but with the reduction of the tax coming a little sooner than what Gov. Joe Manchin had originally proposed.
The proposed tax cut is part of a bill requested by the Governor's Office that would clean up a law already in state code that would make West Virginia a combined reporting state fortax purposes by 2009. In its original form, it also would have reduced the corporate net income tax from its current rate of 8.75 percent to 6.5 percent by 2014.
However, many senators felt the reduction needed to happen sooner rather than later. Senate Minority Leader Don Caruth, R-Mercer, convinced lawmakers to amend the bill ...
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