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West Virginia Tax

West Virginia Tax

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West Virginia Tax

Individual Income Tax Forms

Form IT-140 Personal Income Tax Return

Form IT-140 NRC Nonresident Composite Return

Form IT-140NRS Special Nonresident Income Tax Return

Form IT14111 Fiduciary Income Tax Return 

Corporate Income Tax Form

Form SPF-100 Income Business Franchise Tax Return

Sales Tax Forms

Exemption Form

Form CST-200 Consumer Sales and Service Tax Return

Form CST-200CU Sales and Use Tax Return (After 1.1.12)

Form CST-200CU Sales and Use Tax Return (Oct 2011 to Jan 1. 2012)

CST- 200CU Sales and Use Tax Return ( Prior to Oct.1, 2011)

Form CST-220 Use Tax Return

Property Tax Forms

Form STC-1232I Industrial Business Property Return

Form STC-1232C Commercial Business Property Return

The West Virginia State Tax Department is the government entity responsible for the collection of all taxes levied in West Virginia. West Virginians pay about 9.3 percent of their incomes to the West Virginia State Tax Department. In comparison to other states, West Virginia ranks 29th among states whose citizens bear the highest tax burdens. West Virginia's economy is mostly based on two major industries Coal Mining and services industries. Coal industry related taxes taxes account for over $300 million dollars of the state's total revenue. 

Coal is central to the solvency of the West Virginia state budget. Despite serious mining disasters in the last century and a half, Coal remains the most vital way of life to many West Virginians. The gift of coal, however, is also a curse. Coal extraction and refinement pollutes the environment such that many West Virginians are subject to deadly chronic diseases such as black lung. Even people are are not miners are impacted by Coal. 

The West Virginia State Legislature has not changed tax policy to address this public health issue. However, given that the bulk of the state's revenue comes directly or indirectly from the coal industry, the state feels impotent to squeeze the industry more despite the fact that it cannot move outside of West Virginia given the concentration of the United State's most common source of electrical energy within that particular geographic area. 

Property Taxes 

The West Virginia State Tax department collects a fraction of the state's property taxes. Property taxes are collected at both the state and local level of governance. In the 25 West Virginia coal counties, over $70 million in property taxes alone were collected from the properties owned by the coal industry. This may account for why property taxes in West Virginia are among the lowest in the United States. 

Property values in coal communities are low due to coal related pollution. Coal is a double-edged sword for residents of West Virginia. Combined State and local property taxes averaged to about $583 per capita. Among the states, the West Virginia state tax department collects the 44th highest amount of property taxes. 

Income Taxes

The West Virginia State Tax Department levies income taxes from individuals and corporations. There are five different West Virginia tax forms that corroborates with the state's five distinct tax brackets. The highest tax form, for personal income tax kicks in when a person has an annual income of $60,000 at a rate of 6.5 percent. 

The West Virginia State Tax Department levies personal and corporate income taxes based on gross income, not taxable income. Corporate income does not have a bracketing system, Income taxes on corporations are imposed at an 8.5 percent flat rate. 

Sales Taxes

West Virginia's sales taxes for general goods and services stands at 6 percent. About $1,300 in sales taxes are raised per person annually. West Virginia's Selective sales taxes on Cigarettes are low whereas the state's gas tax is relatively high. Sales taxes are collected at the state and local level. The state gets the bulk of sales tax revenues. Retail owners are required to fill out West Virginia tax forms to send to the West Virginia State Tax Department. 

West Virginia Tax forms pertaining to sales make for a streamlined payment of taxes. West Virginia tax forms may be filed electronically or through the US Postal Service. Sales taxes are then distributed from the West Virginia State Tax Department to the local governments.  If you need legal advice and assistance, contact West Virginia lawyers.


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