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Wheeling Hopes to Help Small Retail Businesses | News, Sports, Jobs

Staff Writer
WHEELING – The city of Wheeling wants to offer pandemic-related relief to eligible small businesses by the way of a new Business and Occupation Tax Credit.
Members of the Finance Committee of Wheeling City Council met Tuesday night and introduced details of a proposed COVID-19 City of Wheeling Small Retail Business B&O Tax Credit program, which has been in the works for several weeks.
“We know that the COVID-19 pandemic has been very difficult on some of our small retailers,” Mayor Glenn Elliott said. “I think that small retailers were probably hurt the most of all of our local businesses. This is a great way to give back.” ....

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Wood County officials weigh impact of Hino production pause | News, Sports, Jobs

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PARKERSBURG When Hino Motors Manufacturing announced it would halt vehicle production in its North American plants, many in Wood County wondered what type of impact this would have on not only the workers of the plant but the financial side of it as well.
The facility is located in Parkersburg where Mayor Tom Joyce said the stoppage won’t impact revenue from the Business and Occupation Tax, which is not assessed on manufacturing, but it will indirectly affect the municipal sales tax.
“These are working people who are not going to be working for a number of months,” Joyce said. “They’re not going to spend as much. ....

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Capital Gains Tax Likely Proposed in WA 2021 Legislative Session

Capital Gains Tax Likely Proposed in WA 2021 Legislative Session
If submitted, such a bill would likely trigger a lawsuit which could end up determining whether income is considered property.
House Democrat Noel Frame is the chairman of the State Tax Structure Work Group, she plans to submit a report to the legislature next month on possible changes to the state s tax codes. In past sessions, she has submitted bills that would create a capital gains tax.
Apparently the legislature is also considering replacing the Business and Occupation Tax with a corporate income tax, but the rate would be so high it would be a big obstacle to get over. ....

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