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Introduced Version House Bill 3350 History

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Key: Green = existing Code. Red = new code to be enacted

FISCAL NOTE

WEST virginia legislature

2023 regular session

Introduced

House Bill 3350

By Delegates Rowe, Fluharty, Skaff, Williams, Garcia, Young, E. Pritt, Griffith, Hansen, Walker, and Hornbuckle

[Introduced February 08, 2023; Referred to the Committee on Finance]

A BILL to amend and reenact §11-21-4e of the Code of West Virginia, 1931, as amended, relating to reducing the personal income tax to zero for those making $80,000 or below.

Be it enacted by the Legislature of West Virginia:

ARTICLE 21. PERSONAL INCOME TAX.

§11-21-4e. Rate of tax -- Taxable years beginning on or after January 1, 1987 2024.

(a) Rate of tax on individuals (except married individuals filing separate returns), individuals filing joint returns, heads of households, estates and trusts. -- The tax imposed by section three of this article on the West Virginia taxable income of every individual (except married individuals filing separate returns); every individual who is a head of a household in the determination of his or her federal income tax for the taxable year; every husband and wife who file a joint return under this article; every individual who is entitled to file his or her federal income tax return for the taxable year as a surviving spouse; and every estate and trust shall be determined in accordance with the following table:

If the West Virginia

taxable income is: The tax is:

 

Not over $10,000 3% of the taxable income $0

 

Over $l0,000 but not $300.00 plus 4% of excess

over $25,000 over $10,000 $0

 

Over $25,000 but not $900.00 plus 4.5% of excess

over $40,000 over $25,000 $0

 

Over $40,000 but not $1,575.00 plus 6% of excess

over $60,000 over $40,000 $0

 

Over $60,000 $2,775.00 plus 6.5% of excess

over $60,000 $0

 

Over $80,000 6.5% of excess

over $80,000

(b) Rate of tax on married individuals filing separate returns. -- In the case of husband and wife filing separate returns under this article for the taxable year, the tax imposed by section three of this article on the West Virginia taxable income of each spouse shall be determined in accordance with the following table:

If the West Virginia

taxable income is: The tax is:

 

Not over $5,000 3% of the taxable income $0

 

Over $5,000 but not $150.00 plus 4% of excess

over $l2,500 over $5,000 $0

 

Over $l2,500 but not $450.00 plus 4.5% of

over $20,000 excess over $l2,500 $0

 

Over $20,000 but not $787.50 plus 6% of excess

over $30,000 over $20,000 $0

 

Over $30,000 $1,387.50 plus 6.5% of

excess over $30,000 $0

 

Over $40,000 6.5% of

excess over $40,000

 

(c) Applicability of this section. -- The provisions of this section, as amended by this act, shall be applicable in determining the rate of tax imposed by this article for all taxable years beginning after December 31, 1986 2023, and shall be in lieu of the rates of tax specified in section four-d of this article.

NOTE: The purpose of this bill is to reduce the amount of personal income tax paid by West Virginia taxpayers to $0 for those earning $80,000 or less.

Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.

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