Gov. Earl Ray Tomblin has signed a bill which will provide a property tax credit for businesses that spend at least $2 billion to build ethane cracker plants in West Virginia. Instead of taxing the property at 5 percent of its original value for 10 years, the bill extends the salvage value tax treatment of 5 percent for 25 years.
“This tax relief bill showcases our state’s commitment to being a great business partner today and long into the future,” said Gov. Tomblin.
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