West Virginia Governor Proposes Social Security, Business Tax Cuts

West Virginia Gov. Jim Justice delivered his 2019 State of the State Address proposing to:

– exempt Social Security benefits from state income tax; and

– repeal the property tax on business inventory.

Exemption for Social Security Benefits

The governor proposes to exempt Social Security benefits from state income tax. West Virginia is one of only 13 states that tax Social Security income. It currently allows an income tax deduction of up to $8,000 for taxpayers who are:

– 65 or older; or

– certified as permanently and totally disabled.

The governor said those taxpayers will have the option to claim the $8,000 deduction or the Social Security income exemption.

State of the State Address, Office of West Virginia Gov. Jim Justice, January 9, 2019

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All stories by: CCHTaxGroup