West Virginia Tax Division Releases Revised Document on New Small Business Property Tax Adjustment Credit

The West Virginia Tax Division Aug. 1 released a revised document on small business property tax adjustment credit, detailing a new tax credit available to small businesses with an aggregate appraised personal property value of $1 million or less, effective from Jan. 1. The document outlines the eligibility criteria, what qualifies for the credit, and the necessary steps to claim this credit on a 2024 WV income tax return, filed in 2025. [W. Va. Tax Div, TSD 456 - Small Business Property Tax Adjustment Credit, 08/01/24]

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