W.Va. Gas Tax Up, Business Taxes Down on Jan. 1

By: The Associated Press Email
By: The Associated Press Email

CHARLESTON, W.Va. (AP) - Motorists will pay an additional penny for a gallon of gasoline in West Virginia, beginning Wednesday.

The 1-cent increase is one of several tax changes that go into effect at the start of the new year.

The corporate income tax will drop to 6.5 percent on Wednesday. The business franchise tax will fall to 0.1 percent.

The gas tax increase is due to the state Tax Department's annual recalculation of the average wholesale gas price. The recalculation will increase the tax to 54.1 cents per gallon.

West Virginia Oil Marketers and Grocers Association president Jan Vineyard says the variable rate helps to keep state funding for roads in line with inflation.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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