Taxes

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It’s thriving. It’s innovation. It’s opportunity.
It’s strategically located. It’s highly trained. It’s hard working.
It’s your next location. It’s calling you.

IT’S MORGANTOWN

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Taxes

The tax climate in Morgantown, Monongalia and Preston counties and the state of West Virginia, all are favorable and conducive to growing business in the Mountain State.

The state levies a singular tax on business – a Corporation Net Income Tax. This tax structure is imposed annually at 6.5 percent of federal and taxable income.

The state also levies specific taxes on industries throughout the Mountain State, including:

  • Business and Occupation (B&O) Tax imposed on public utilities, electric power generators and natural gas storage operators.
  • Severance Taxes levied on the production of natural resources at 5 percent.
  • Consumers’ Sales and Service Tax (CSST) and Use Tax, levied at 6 percent.
  • Business Registration Tax which is a one-time fee of $30 for each location.
  • Personal Income Tax is a graduated scale applied to all taxable income.
  • Property Taxes are imposed on the local level.

County taxes imposed on businesses operating in the region include property taxes administered by county governments. Businesses pay property tax on furniture, fixtures, equipment, inventory and real estate if a business operates from a bricks and mortar location. Many cities also administer a B&O tax applied as a percentage of gross revenue.

Other fees, taxes and licenses may be required depending upon specific industries within which businesses operate. The best way to proceed with opening, positioning or relocating a business within the Morgantown MSA, is to contact the municipal offices that govern the specific community from where the business plans to operate.

Holly Childs, President + CEO of the Morgantown Area Economic Partnership, and Director of the Monongalia County Development Authority, can answer your questions about the tax climate in the Morgantown MSA. Childs can be reached at 304.594.8085 or by email at holly@itsmorgantown.com. She’s ready to show you all the reasons why the perfect place for your next location or development is Morgantown.

6.5

Corporation net
income tax

1.22

Timber severance
tax rate

5%

Natural resources
severance tax

6%

State
sales tax

$30

One-time business
registration fee

60%

of appraised value
collected as property tax