SB 933: Creating Small Business Protection Act - West Virginia

Engrossed Committee Substitute → sb933 sfa queen _1 4-2 adopted.htm · 3 edits

MINOR

The bill text was updated to reflect a specific amendment adopted on April 2, 2025, which lowers the revenue threshold for small business tax exemptions from $25,000 to $10,000. This change applies to two specific sections of the bill, reducing the amount of income a business can generate before it must obtain a business license and pay taxes.

Scope change

The bill's scope of applicability was narrowed. Previously, businesses with annual revenue up to $25,000 were exempt from certain licenses and taxes; now, that exemption only applies to businesses with annual revenue of $10,000 or less.

ELIGIBILITY

The revenue threshold for small business tax and license exemptions was reduced from $25,000 to $10,000 in two specific sections of the bill.

TIMELINE

A record was added indicating that the amendment was adopted on April 2, 2025, replacing the previous 'Engrossed Committee Substitute' status.

TECHNICAL

Standard website navigation links, headers, and footer text were removed as they are not part of the legislative bill text itself.

Committee Substitute → Engrossed Committee Substitute · 2 edits · Apr 2, 2025

MINOR

This bill amends West Virginia's small business licensing laws to lower the revenue threshold for tax exemptions from $25,000 to $10,000 annually. The changes affect independent contractors, sole proprietors, and municipalities by expanding the number of small businesses that can operate without paying business licenses or occupation taxes.

Scope change

The bill expands the scope of tax exemptions to include more small businesses that previously exceeded the $10,000 revenue limit but remained under the old $25,000 limit.

ELIGIBILITY

Lowered the annual revenue threshold for municipal business license exemptions from $25,000 to $10,000 for independent contractors and sole proprietors without a permanent physical location.

Reduced the annual revenue limit for businesses exempt from municipal business and occupation or privilege taxes from $25,000 to $10,000.

Introduced Version → Committee Substitute · 5 edits

MODERATE

The bill was revised from an Introduced Version to a Committee Substitute, updating the sponsor list to include three senators and changing the status to 'Reported' rather than 'Introduced'. The core policy content regarding business registration thresholds, tax exemptions, and the new Small Business Protection Act remains substantively unchanged, with only minor formatting adjustments and the addition of a new legislative finding about regulatory awareness.

Scope change

The bill's scope and applicability remain unchanged; the Committee Substitute retains the exact same eligibility criteria, tax thresholds, and new articles as the Introduced Version.

TECHNICAL

Updated the bill header to list three sponsors (Senators Queen, Martin, and Helton) instead of one, and changed the status from 'Introduced' to 'Reported' by the Committee on Finance.

Minor formatting changes in the header, including capitalization adjustments for 'West Virginia Legislature' and 'Regular Session', and a change in the separator symbol for 'Other Versions'.

Added a new legislative finding in Chapter 8 stating that making small businesses aware of proposed regulations is key to creating an effective partnership between state agencies and small businesses.

Added the word 'annually' to the exemption clause for independent contractors and sole proprietors to clarify that the $25,000 revenue threshold applies on an annual basis.

Removed the introductory 'NEWS RELEASES' and 'HELPFUL LINKS' sections and the explanatory note about strike-throughs, likely to streamline the document for the official code.

Creating Small Business Protection Act

What changed between versions

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