West Virginia Tax Appeals Reverses Property Tax Ruling on Cryptocurrency Mining

The West Virginia Office of Tax Appeals issued a final decision reversing the determination by Tax Commissioner, which had upheld the Preston County Assessor’s denial of special valuation for certain tangible personal property owned by the taxpayer. The dispute centered on whether the taxpayer, a company operating modular data centers housing specialized computers used for cryptocurrency mining, qualified as a “high-technology business” under West Virginia law, and whether its data centers and mining computers were “directly used” in such a business to be eligible for special salvage value tax treatment. The Office of Tax Appeals found that the taxpayer’s core ...