CHARLESTON, W.Va. — The Joint Select Committee on Tax Reform will meet for an all-day session Monday to examine the current tax system and examine if any changes are needed.
Tax committee co-chair and House Finance Committee chairman Eric Nelson said the meeting aims to evaluate ways of making West Virginia’s tax environment fair, simple and pro-economic growth.
The business franchise tax that came off the books Jan. 1 made West Virginia more competitive with surrounding states, Nelson said, and the committee seeks more of the same.
“Through this whole process we want to see how competitive we are with other states,” he said. “At later meetings we’ll have some national entities come in and talk about what other states have done.”
Vowing an open-minded approach to tax reform, Nelson said the state’s tax code is overdue for re-evaluation.
“We’ve not as a state looked at our tax situation since 2006—nine years,” he said. “And then prior to that it was seven years. So I think it’s prudent upon us to on a regular basis always ask are taxes where they need to be.”
The 16-member committee plans to meet at 8:30 a.m. Monday at the Capitol.