The individual would then pay any remaining balance of taxes or receive a refund if the prepayment was overestimated. In lieu of prepayment, the operator may provide to the Commissioner a surety bond in the like amount. County Reappraisal Loan Senate Bill 366 permits a county that has not repaid its reappraisal loan to receive an additional one percent of the county's prior year tax collection if two percent of its prior year's collections were not sufficient to pay at least the interest due on the loan. The additional one percent would be used to repay the loan only. In order to encourage capital investment in West Virginia, a new tax credit was created for companies that engage in new value-added steel manufacturing operations with the passage of HB 4308 .
Steel includes wrought nickel based products.
This credit is an annual credit and based upon the number of new jobs filled by qualified employees during the taxable year. Quarterly Tax Payment for Personal Income Tax House Bill 4303 increases the amount of tax due before the penalty for underestimating quarterly tax payments for the Personal Income Tax. The registration period for Business Registration Certificates was changed from a one year duration to a two year duration, with the passage of HB 4290 . The Board of Public Works is now authorized to correct clerical errors in tax assessments of public utilities with the passage of SB 766 . This authorization is similar to the authorization county commissions have to correct clerical errors in the assessments on county property books.