West Virginia Cuts Income Tax 4% After Topping Revenue Estimate

Personal income tax rates in West Virginia will drop by 4% beginning Jan. 1, 2025, after the state reached its revenue collection goals for fiscal 2024.

Outgoing Gov. Jim Justice’s (R) announcement Thursday came after the state’s fiscal year 2024 revenue hit $5.34 billion, triggering the tax cut. Justice, who is campaigning to succeed Joe Manchin in the US Senate, said July 2 that state collections exceeded estimates by $826.6 million.

• “Nothing will drive population, opportunity, and economic growth in West Virginia like eliminating our personal income tax,” Gov. Justice said in his statement.
• Justice also said the Legislature will ...