State announces corporate tax changes beginning next month

CHARLESTON — Two business tax changes, including one repeal, were announced this week by West Virginia State Tax Commissioner Christopher G. Morris.
West Virginia lawmakers passed a bill repealing the Corporate License Tax during the 2008 Legislative session. It will be repealed as of Tuesday, July 1.
"This tax reduction will save all registered corporations roughly $6.7 million per year," Morris said in a press release. "It is one of several steps taken under the leadership of Gov. Joe Manchin to help ease the tax burden on businesses."
While corporations will no longer be taxed for a corporate license, the Secretary of State's office will still require an existing $25 annual fee for the office's annual report. This fee was formerly called the Attorney-In-Fact Fee.
To learn more, visit the Secretary of State's office Web site at www.wvsos.gov.
As of July 1, 2010, businesses will no longer have to periodically renew their business registration certificate. When implemented, this change will save businesses a total of $1.8 million in annual fees and eliminate roughly 100,000 tax return filings each year, the press release said.
Businesses registrations are valid for two years, Morris said. So if a business registers after July 1 of this year, the certificate issued will be permanent and there will be no need to re-register as of July 1, 2010. 
Until that time, there is a $30 fee for those renewing their business registration certificate.
To learn more about these tax changes and more, log onto to the State Tax Department's Web site at www.state.wv.us/taxdiv.