WestVirginia is a growing market of 1 million consumers
The net
corporate income tax rate is 6.5% while business costs
are 13% below the national average.
Tourism is one of the state's largest industries. Alongside outdoor recreation
opportunities, the state offers a number of historic and cultural attractions.
One of the
major resources in West Virginia's economy is coal. According
to the Energy Information Administration, West Virginia is a top coal-producer
in the United States, second only to Wyoming. West Virginia also produces large
amounts of natural gas and a fair amount of oil. West Virginia is located in
the heart of the Marcellus Shale Natural Gas Bed, which stretches from
Tennessee north to New York in the middle of Appalachia.
Nearly all
of the electricity generated in West Virginia is from
coal-fired power plants. Farming is also practiced in West Virginia, but on a
limited basis because of the mountainous terrain over much of the state.
Oak, cherry,
poplar, maple, and pine are just a few of the various trees often harvested in
the state.
West
Virginia personal income tax is based on federal adjusted
gross income (not taxable income), as modified by specific items in West
Virginia law. Citizens are taxed within five income brackets, which range from
3.0 percent to 6.5 percent. The state's consumer sales tax is levied at 6
percent.
The primary beneficiaries of the property tax are county boards of
education.

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