PARKERSBURG, W.Va. — The Parkersburg City Council on Tuesday approved on first reading a proposal that would grant businesses exemption from business and occupation tax payments.
The proposal would allow businesses to exempt the first $500 of their tax payments for the final quarter of the fiscal year. Mayor Tom Joyce told MetroNews last week the plan is aimed at giving businesses financial relief during the coronavirus pandemic.
The final vote is scheduled for June 2.
The council also approved budget revisions related to an estimated $2 million loss in the general revenue fund; $1 million will be directed from the city’s stabilization fund into the account.