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Tax Official: West Virginia’s Vehicle Lease Tax Left Unchanged
By: Associated Press
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CHARLESTON, W.Va. (AP) – A state official says West Virginia will miss out on revenue gains from an omission on sales taxes increases approved by the Legislature.
The Charleston Gazette-Mail reports Deputy Revenue Secretary Mark Muchow told lawmakers during interim meetings Tuesday a bill that raised other taxes did not increase the sales tax on long-term vehicle leases.
Legislation approved in June to raise revenues for financing road bonds increased from 5 to 6 percent the state gas tax, the sales tax on motor vehicle sales and various Division of Motor Vehicles fees.
Muchow told the Joint Committee on Government and Finances the intent also was to increase the long-term vehicle leases sales tax to 6 percent. Instead, it was left at 5 percent. Muchow says the omission “will cost a little bit of money” unless it’s fixed.