SB 933
Creating Small Business Protection Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
Senate Bill 933, the Small Business Protection Act, aims to reduce the regulatory burden on small businesses in West Virginia. It proposes increasing the income and revenue thresholds before a business license is required, exempting independent contractors and sole proprietors from licenses under certain conditions, and raising the annual revenue threshold for B&O tax exemptions. The bill also establishes the Small Business Protection Act with the intent of improving state rulemaking by considering more flexible regulatory approaches for small businesses and promoting proactive engagement with the small business community.
Key provisions
- Increases the income and revenue thresholds before a business license is required.
- Exempts independent contractors and sole proprietors from business licenses under certain requirements.
- Raises the annual revenue threshold for businesses to be exempt from B&O taxes.
- Creates the Small Business Protection Act.
- Requires agencies to solicit input from small businesses during rule development.
- Mandates a review of the continued need for existing regulations.
- Establishes procedures for agencies to analyze more flexible regulatory approaches.
- Provides for a streamlined process for small businesses to obtain licenses and permits.
Who is affected
- Small businesses
- Independent contractors
- Sole proprietors
- Taxpayers
- State agencies
Notable changes
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