THE PERSONAL INCOME TAX BILL:THE WRONG CHOICEFOR WV LAWMAKERS
The Personal Income Tax bill would be devastating to the
business community small/large and consumers in West Virginia.
Make sure your lawmakers in Charleston know the impact of their decisions.
I am reaching out to you concerning the Governor’s Personal Income Tax bill. While we applaud the Governor’s passion for wanting to help West Virginians, this proposed bill will have a devastating effect on established businesses and future businesses wanting to locate in our state. A decision to add new taxes and increase ones already in place would create additional burdens on those doing business in our state and ultimately on the consumers.
The pandemic has set so many businesses on their heels and they fight every day to come back to a secure stance. In a time when we are trying earnestly to lift ourselves up, any new taxes would set us back with the adverse effects it would set into motion. For example, an advertising tax will compel small business owners throughout the state, who rely on advertising to market their goods and services, to either pass the cost along to their customers or maybe shut their doors. It is not the effect of this one tax, it will be the combination of paying the new tax on advertising, taxes on their attorney and accountant fees, higher soda tax, etc. that may prove too much to sustain.
The effects are sobering as witnessed in Florida when a similar tax was instituted and repealed months later. Forty states have considered and rejected the idea. The proposed tax would also have a crippling effect on WV’s local media organizations. Local broadcasters serve a crucial role, especially in times like this, keeping the public up to date and informed. Eighty to eighty-five percent of advertising purchased is from local businesses, employing local people and contributing to the local economy.
West Virginia is facing enormous financial challenges but balancing the budget by placing yet another burden on the backs of West Virginia's primary economic drivers is not the right path forward. Thank you for your time and consideration.
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