Saturday, February 27, 2010
W. Va. Considering Gun Tax Holiday
WEST VIRGINIA....
West Virginia is no stranger to sales tax holidays. Friday, the state House of Delegates unanimously passed the Second Amendment Appreciation Act under which West Virginia would suspend sales taxes on gun purchases during the first weekend of October. The lead sponsor, Delegate Scott Varner, D-Marshall, said the holiday could actually bring in increased tax revenues, while shoppers likely will buy other things that are taxed, meaning the revenue loss from the tax cut would likely be relatively small. Varner said the much-shorter holiday he is proposing is timed to coincide with the opening of hunting season. So far, the bill hasn’t met any resistance on the local level. However, at a national level, Mark Robyn, an economist with the nonprofit Tax Foundation, has criticized the adoption of tax holidays for guns and other items as political gimmicks that do little for tax reform.
West Virginia is no stranger to sales tax holidays. Friday, the state House of Delegates unanimously passed the Second Amendment Appreciation Act under which West Virginia would suspend sales taxes on gun purchases during the first weekend of October. The lead sponsor, Delegate Scott Varner, D-Marshall, said the holiday could actually bring in increased tax revenues, while shoppers likely will buy other things that are taxed, meaning the revenue loss from the tax cut would likely be relatively small. Varner said the much-shorter holiday he is proposing is timed to coincide with the opening of hunting season. So far, the bill hasn’t met any resistance on the local level. However, at a national level, Mark Robyn, an economist with the nonprofit Tax Foundation, has criticized the adoption of tax holidays for guns and other items as political gimmicks that do little for tax reform.
# posted by Homer Owens @ 9:03 AM 
