West Virginia Code 8-13C-7 – Municipal sales and service tax and use tax fund; deposit and remittance of collections
(a) There is created a special revenue account in the state Treasury designated the "municipal sales and service tax and use tax fund" which is an interest-bearing account and shall be invested in the manner described in section nine-c, article six, chapter twelve of this code with the interest and other return earned a proper credit to the fund. A separate subaccount within the fund shall be established for each municipality that imposes a municipal sales and service tax and use tax pursuant to this article.
Terms Used In West Virginia Code 8-13C-7
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
- Treasurer: shall mean the treasurer or other municipal officer, by whatever name called, exercising the power and authority commonly exercised by a treasurer. See West Virginia Code 8-1-2
(b) The Tax Commissioner shall deposit all the proceeds from a municipal sales and service tax and a municipal use tax collected for each municipality minus any fee for collecting, enforcing and administering taxes in the appropriate subaccount. All moneys collected and deposited in the fund shall be remitted at least quarterly by the state Treasurer to the treasurer of the appropriate municipality.