{West Virginia}...In hopes of eliminating the state tax on food, Acting Governor Earl Ray Tomblin has released a plan hoping to get rid of it as early as 2014. Under the plan, a series of triggers would be created linked to funding levels in the state's rainy day fund which is set to nearly 12.6 percent of the state's general revenue budget. The tax, which is currently at 3 cents per dollar, is set to decrease to two cents per dollar in January 2012. During this week's Special Session, state lawmakers are being asked to reduce it .5 cents more starting then as well. If lawmakers approve the plan, the remaining 1.5 cent food tax will continue to be reduced in half cent increments based upon how much money is in the Rainy Day Fund. If it gets to 15% of the total budget, the food tax will be eliminated.
