West Virginia Tax FAQs

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West Virginia Tax Forms

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West Virginia Corporate Taxes

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• West Virginia Tax Rates & Brackets:
  
  8.7%> $0
  
• Loss Carry-back/fwd: 2 Years Back ($300,000 max.) / 20 Years Forward (Unlimited)
• Throwback Sales?: N
• Foreign Tax Deductible?: N
• Alternative Minimum Tax (AMT): N
• Gross Receipts Tax: N
• Capital Stock (Net Worth) Tax?: 0.550%

West Virginia Tax Incentives and Credits

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• Job Credits?: Y
• R&D Credits?: Y
• Investment Credits?: Y

West Virginia Individual Income Taxes

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• West Virginia tax rates and brackets:
  
  3%> $0
  4%> $10,000
  4.5%> $25,000
  6%> $40,000
  6.5%> $60,000
  
• Local Option IT Rate: None
• Federal Inc used as Base?: Y
• Standard Deductions: Single N/A / Joint N/A
• Personal Exemptions/Credits (c): Single $2,000 / Joint $4,000 / Dependent $2,000
• Federal Tax Deductible?: N
• State Tax Deductible?: Y
• Alternative Minimum Tax (AMT)?: Y

West Virginia Estate, Gift and Inheritance Taxes

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• Gift Tax?: N
• Estate Tax?: Copies Federal
• Inheritance Tax?: N
• Generation-Skipping Tax?: N

West Virginia Miscellaneous Taxes

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• Gas Tax: 32.5 cents/gallon
• Diesel Tax: 32.5 cents/gallon
• Cigarette Tax: 55.0 cents/20 pack

West Virginia Pass-through Tax Treatment

• taxmOuth West Virginia Pass-through Entity Tax
• LLC Pass-through Recognized?: Y
• S-Corp Pass-through Recognized?: Y

West Virginia Payroll Taxes

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• Unemployment Insurance Tax Index (TaxFoundation.org): #31

West Virginia Property Taxes

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• Median Tax Paid on Homes (Rank): $457 (#48)
• Median Value of Homes: $95,900
• Tax as % of Home Value (Rank): 0.48% (#45)
• Median Income of Homeowner: $46,105
• Tax as % of Income (Rank): 0.99% (#48)

West Virginia Sales and Use Taxes

• taxmOuth West Virginia Sales and Use Taxes
• State Rate: 6.00%
• County & City (Weighted Ave): None
• Combined State and Ave. Local Rates (Rank): 6.00% (#32)
• General Treatment of Services: Taxable
• Gasoline: Exempt
• Groceries: Partial