H. B. 3096
(By Delegate Guthrie)
[Introduced March 12, 2009; referred to the
Committee on Agriculture then Finance.]
A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §11-21-8i; and to
amend said code by adding thereto a new section, designated
§11-24-11d, all relating to providing tax credits for the
producers and buyers of locally grown produce that is sold
within the state.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new section, designated §11-21-8i; and that
said code be amended by adding thereto a new section, designated
§11-24-11d, all to read as follows:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-8i. Credit for the sale of locally grown produce.
Upon presentation of written certification by the Department
of Agriculture a credit shall be allowed against the primary tax liability of an eligible taxpayer under this article for the
purchase or sale of produce grown in the state that is sold to
consumers, produce markets, grocery stores, supermarkets,
restaurants and other resellers. The credit is also available to
eligible taxpayers who use that produce in preparation of other
foodstuffs. The income tax credit shall be equal to five percent
of the cost of produce grown or produced in the state. Any amount
of income tax credit not deductible in the taxable year of
certification may not be carried over to the following year.
ARTICLE 24. CORPORATION NET INCOME TAX.
§11-24-11d. Credit for the sale of locally grown produce.
Upon presentation of written certification by the Department
of Agriculture a credit shall be allowed against the primary tax
liability of an eligible taxpayer under this article for the
purchase or sale of produce grown in the state that is sold to
consumers, produce markets, grocery stores, supermarkets,
restaurants and other resellers. The credit is also available to
eligible taxpayers who use that produce in preparation of other
foodstuffs. The income tax credit shall be equal to five percent
of the cost of produce grown or produced in the state. Any amount
of income tax credit not deductible in the taxable year of
certification may not be carried over to the following year.
NOTE: This bill provides tax credits for the producers and
buyers of locally grown produce that is sold within the state.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.