(A) There shall be an exemption of $50 per month in an amount of tax computed under this subchapter.
(B) The provisions of this subchapter shall not apply to:
(1) Insurance companies which pay the state a tax upon premiums; provided, however, that this exemption shall not extend to that part of the gross income of insurance companies which is received for the use of real property, other than property in which any such company maintains its office or offices, in this state, whether such income be in the form of rentals or royalties;
(2) Nonprofit cemetery companies organized and operated for the exclusive benefit of their members;
(3) Fraternal societies, organizations and associations organized and operated for the exclusive benefit of their members and not for profit; provided, however, that this exemption shall not extend to that part of the gross income arising from the sale of alcoholic liquor, food and related services of such fraternal societies, organizations and associations which are licensed as private clubs under the provisions of the West Virginia Code;
(4) Corporations, associations and societies organized and operated exclusively for religious or charitable purposes;
(5) Production credit associations organized under the provisions of the Federal Farm Credit Act of 1933, being 12 U.S.C. §§ 1131 et seq.;
(6) Any credit union organized under the provisions of West Virginia Code; provided that the exemptions of this section shall not apply to corporations or cooperative associations organized under the provisions of W. Va. Code Ch. 19, Art. 4;
(7) Gross income derived from advertising service rendered in the business of radio and television broadcasting;
(8) The gross income or gross proceeds of sale of a gasification or liquefaction of coal project certified by the Tax Commissioner of the state; provided that such exemption shall expire seven years from the date the project first receives gross income or gross proceeds from sales;
(9) Gross income of a nonprofit homeowners’ association received after assessments on its members for community service such as road maintenance, common area maintenance, water service, sewage service and security service; and
(10) Nonprofit water and sewer companies governed by the Public Service Commission.
(Ord. passed 11-12-2019)