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Introduced Version House Bill 2722 History

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hb2722 intr
H. B. 2722


(By Delegates Williams, Crosier, Shaver,

Ashley, White and Anderson)

[Introduced February 20, 2009; referred to the

Committee on Finance.]




A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-21-10b; and to amend said code by adding thereto a new section, designated §11-24-11c, all relating to authorizing a $100 tax credit against either personal income tax or corporate net income tax for the expense incurred when reprogramming a cash register when the sales tax on food and food ingredients is changed.

Be it enacted by the Legislature of West Virginia:

That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §11-21-10b; and that said code be amended by adding thereto a new section, designated §11-24-11c, all to read as follows:

ARTICLE 21. PERSONAL INCOME TAX.
PART I. GENERAL.

§11-21-10b. Credit for expense of reprogramming cash register.
On and after July 1, 2009, a credit is allowed against the tax imposed by the provisions of this article in the amount of $100 to any eligible taxpayer engaging in a business activity classified as having a sector identifier consisting of the first three digits of the six-digit North American Industry Classification System code number of 445, or engaging in a business activity classified as having a sector identifier consisting of the six-digit North American Industry Classification System code number of 446110 or 447110. The credit authorized by this section may be applied in any taxable year in which the eligible taxpayer was required to reprogram its cash registers because of a change in the consumers sales and service tax rate imposed by section three-a, article fifteen of this chapter on sales of food and food ingredients. Only a taxpayer with gross revenue that is less than $2 million for the immediately preceding taxable year is eligible to use the credit authorized by this section.
ARTICLE 24. CORPORATION NET INCOME TAX.
§11-24-11c. Credit for expense of reprogramming cash register.
On and after July 1, 2009, a credit is allowed against the tax imposed by the provisions of this article in the amount of $100 to any eligible taxpayer engaging in a business activity classified as having a sector identifier consisting of the first three digits of the six-digit North American Industry Classification System code number of 445, or engaging in a business activity classified as having a sector identifier consisting of the six-digit North American Industry Classification System code number of 446110 or 447110. The credit authorized by this section may be applied in any taxable year in which the eligible taxpayer was required to reprogram its cash registers because of a change in the consumers sales and service tax rate imposed by section three-a, article fifteen of this chapter on sales of food and food ingredients. Only a taxpayer with gross revenue that is less than $2 million for the immediately preceding taxable year is eligible to use the credit authorized by this section.


NOTE: The purpose of this bill is to provide a $100 tax credit to certain businesses that are required to reprogram its cash registers because of a change in the sales tax rate imposed on the sale of food and food ingredients.

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.
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