H. B. 4557

         (By Delegate Fragale)

         [Introduced February 14, 2014; referred to the

         Committee on Finance.]

A BILL to amend and reenact §11-5-4 of the Code of West Virginia, 1931, as amended, relating to requiring that motor vehicles, except leased motor vehicles, used in a business be assessed for taxation in the tax district where the principal office for the business is located; and providing exceptions.

Be it enacted by the Legislature of West Virginia:

    That §11-5-4 of the Code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:

ARTICLE 5. ASSESSMENT OF PERSONAL PROPERTY.

§11-5-4. In what district personalty assessed.

    (a) Every person required by law to list personal property for taxation shall list the tangible personal property in the tax district wherein where it is on the first day of the assessment year, and chattels real in the tax district wherein where the land to which they relate is located; and he or she shall list for taxation in the tax district in which he or she resides the notes, bonds, bills, and accounts receivable, stocks and other intangible personal property subject to taxation belonging to himself or herself or under his or her charge or control, whether the same, or the evidence thereof be is in or out of the state; but capital, and intangible property, except real estate and chattels real, employed in any trade or business, other than agriculture, belonging to a company whether it is incorporated or not, or to an individual, shall be assessed for taxation in the tax district wherein where the principal office for the transaction of the financial concerns pertaining to such the trade or business is located; or, if there be is no such office, then in the district where the operations are carried on. Goods and chattels and other tangible personal property not exempt from taxation which may not be assessed for taxation in the tax district where the same were on the first day of the assessment year, but which have been removed therefrom, shall be assessed in the tax district where the same were on the first day of the assessment year; but the assessment and payment of taxes in any county or district in any year shall exonerate the owner of such the property in any other county or district for such the year: Provided, That in cases of the assessment of leasehold estates a sum equal to the valuations placed upon such the leasehold estates shall be deducted from the total value of the estate, to the end that the valuation of such the leasehold estate and the remainder shall aggregate the true and actual value of the estate.

    (b) Notwithstanding any provision of this code to the contrary, after June 30, 2014, each motor vehicle, except leased motor vehicles, employed in any trade or business, other than agriculture, belonging to a company whether it is incorporated or not, or to an individual, shall be assessed for taxation in the tax district where the principal office for the transaction of the financial concerns pertaining to the trade or business is located notwithstanding the actual presence of the motor vehicle in another district for more than half of the tax year in another tax district of the state; or, if there is no office in the state, then in the district where the operations are carried on.

    (c) For purposes of this section, “motor vehicle” means a vehicle subject to registration under chapter seventeen-a of this code.

    NOTE: The purpose of this bill is to require that motor vehicles, except leased motor vehicles, used in a business be assessed for taxation in the tax district where the principal office for the business is located.

    Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.