West Virginia – Governor to Eliminate Food Tax

SALT Report 1211 – West Virginia Governor Earl Ray Toblim recently signed Senate Bill 1001 which reduces sales tax on food and food ingredients from 3% to 2% beginning January 1, 2012. ┬áThe bill offers additional reductions that will eliminate the tax entirely by 2014.

Eliminating the tax is contingent upon the state’s Revenue Shortfall Reserve Fund reaching at least 12.5% of general revenue spending. Assuming the state can meet its goal and the food tax is eliminated West Virginia consumers will save an estimated $81 million annually.

For Further Information:

West Virginia Gov. Earl Ray Tomblin

Senate Bill 1001