West Virginia Tax

West Virginia State Tax

West Virginia Income Tax

Aside from federal taxes, residents in the United States are subject to taxes imposed by the state they live and work in. West Virginia is one of the many states that levy taxes on income, sales, and properties, among others. State tax laws may differ from one state to another.

The West Virginia State Tax Department is responsible for implementing tax regulations in the state. It is also in charge of processing income tax returns and collecting tax payments every year.

State income tax rates in West Virginia are spread across 5 brackets. The lowest bracket is taxed 3%; the highest 6.5%. There are no expanded income tax brackets for joint filers in West Virginia.

Companies and business entities that operate in Washington are subject to various taxes such as sales tax, franchise tax, and corporate income tax. The corporate income tax rate is 7.75% of the net income made in the state. This rate is set to drop to 7% in January 2013.

West Virginia is the first state to impose sales tax. At present, the state sales tax rate is flat 6%. Counties, cities, towns are not allowed to impose additional local sales tax.

Most prescription drugs are exempt from West Virginia sales taxes. Unlike most states, groceries and raw food are not exempt but taxed at a reduced rate of 3% instead.

Real property owners must pay property taxes to the county where the property is located. The median property tax rate in West Virginia is one of the lowest in the United States.