Legislature 2008: Taxes

State senators are taking aim at West Virginia's much-derided business franchise tax this session, building on legislation passed last year that is gradually whittling it down.

As Public Broadcasting, The Register-Herald and MetroNews report, a bill introduced Monday would kill off the tax in 2012.

"Existing law provides a gradual reduction of the tax until 2012, when it reaches the rate of .21 percent, and remains at that number," the Beckley newspaper explained. "The newest bill, however, would erase the final increment."

The tax is based on a business' net equity, which includes stock value and retained earnings. MetroNews also has audio.

Taxes are also the topic of today's column from MetroNews Talkline Host Hoppy Kercheval. The Charleston Gazette, meanwhile, reports that "there's a new line on state income tax forms this year, for reporting taxes due on Internet purchases. But there isn't a new fervor on the state's part to crack down on such collections."