SENATE CONCURRENT RESOLUTION NO. 43
(By Senators McCabe, Fanning, Helmick, Minard, Prezioso,
Facemyer, Guills and Minear)
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[Originating in the Committee on Economic Development.]
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Requesting the Joint Committee on Government and Finance conduct a
feasibility study of repealing the current corporate license
tax and replacing it with a fee to be administered by the
Secretary of State.
Whereas, The current corporate license tax is archaic,
confusing to businesses and difficult to administer; and
Whereas, Streamlining and updating the process to more
accurately reflect the true purpose of the reporting requirement
would be less burdensome to businesses and more efficient; and
Whereas, An annual reporting requirement with an annual fee
could be administered by the Secretary of State to replace the
fiscal impact of the tax being repealed; therefore, be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby
requested to conduct a feasibility study of repealing the current
corporate license tax and replacing it with a fee to be
administered by the Secretary of State; and, be it
Further Resolved, That the Joint Committee on Government and
Finance report to the regular session of the Legislature, 2005, on
its findings, conclusions and recommendations, together with drafts
of any legislation necessary to effectuate its recommendations;
and, be it
Further Resolved, That the expenses necessary to conduct this
study, to prepare a report and to draft necessary legislation be
paid from legislative appropriations to the Joint Committee on
Government and Finance.