August 16th, 2024 by WCBC Radio
Gov. Jim Justice announced today that Revenue Secretary Larry Pack and State Auditor JB McCuskey inked a letter certifying a 4% reduction in West Virginia’s personal income tax. The certification has been filed with the State Tax Division and will take effect January 1, 2025. The Department of Revenue and State Auditor's Office collaborated to verify the accuracy of Fiscal Year 2024 tax collections, culminating in today’s formal agreement.
Gov. Justice announced the reduction in July after state revenue collections exceeded inflation, as stipulated in House Bill 2526, which he signed in 2023. This marks the second consecutive year West Virginia has reduced its personal income tax rate, moving closer to eliminating it entirely.
"It only makes sense that as West Virginia thrives, our people thrive and deserve a share of that prosperity,” Gov. Justice said. “We have so much to be proud of, but there's more work ahead. While it won’t happen during my time as your Governor, our state is on a pathway to eliminating its personal income tax—so, let’s keep the ball rolling in the same direction. We all know, at the end of the day, getting rid of the personal income tax will bring more goodness and more people to our beautiful state. Keep it up, West Virginia.”
“West Virginia continues to shine, and as we foster an environment for economic growth, the hardworking people of this state will share in that success,” Secretary Pack said. “As the state prospers, our citizens deserve to keep more money in their pockets. This milestone reflects our commitment to making West Virginia the best place to work, live, and raise a family. Today is yet another proud moment for West Virginia, and we should all be excited about the bright future ahead.”
“For nearly a decade, West Virginia Republicans have championed tax, legal and regulatory reform, also accountability and transparency,” Auditor McCusky said. “In that time, we have seen historic levels of economic development, job creation and prosperity. We know there is still work to be done, however, to ensure every child in West Virginia receives an education, and every citizen has access to clean water, good roads, the Internet and essential services for a better life. Today, we are proud of the outstanding work done, over the last decade, to allow us to return nearly a hundred million taxpayer dollars back to the hard-working people of West Virginia.”
In July, Gov. Justice requested the West Virginia Legislature consider an additional 5% personal income tax cut in an upcoming special session. To date, Gov. Justice and the West Virginia Legislature have delivered over $1 billion in tax cuts to the people of West Virginia. More information is available on the West Virginia State Tax Department's website.
