Senate Bill No. 248
(By Senators Tomblin (Mr. President) and Caruth, By Request of
the Executive)
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[Introduced February 13, 2009; referred to the Committee on
Finance.]
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A BILL to amend and reenact §11-21-3 of the Code of West Virginia,
1931, as amended, relating to the expiration of the
alternative minimum tax; and providing for the expiration of
the alternative minimum tax for tax years beginning on and
after January 1, 2010.
Be it enacted by the Legislature of West Virginia:
That §11-21-3 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-3. Imposition of tax; additional, temporary surtax imposed;
effective and termination dates; minimum tax; persons
subject to tax.
(a)
Imposition of tax.
(1)
Primary tax. -- A tax determined in accordance with the rates hereinafter set forth in this article is hereby imposed for
each taxable year on the West Virginia taxable income of every
individual, estate and trust.
(2)
Temporary surtax. -- In addition to the primary tax
imposed upon the persons, for the periods, on West Virginia taxable
income, and at the rates, as aforesaid, there is hereby imposed an
additional tax, a temporary surtax, of twelve percent of such
determined primary tax liability for individuals and heads of
household with West Virginia taxable income in excess of $10,000
and for those filing a joint return with West Virginia taxable
income in excess of $20,000; and with such primary tax and
additional tax, the temporary surtax, together with the minimum tax
herein, to constitute the tax imposed by this section and under
this article.
(3)
Minimum tax. -- In addition to the primary tax and the
temporary surtax imposed by this section, there is imposed a
minimum tax, which shall be the excess, if any, by which an amount
equal to twenty-five percent of any federal minimum tax or
alternative minimum tax for the taxable year exceeds the sum of the
primary tax and the temporary surtax imposed by this section for
the taxable year.
(4)
Effective date. -- The additional tax, the temporary
surtax herein imposed, and the minimum tax herein imposed are hereby made effective on and after April 1, 1983:
Provided, That
the temporary surtax shall expire, be nullified and of no further
force or effect whatsoever after June 30, 1985:
Provided, however,
That the minimum tax shall expire, be nullified and of no further
force or effect whatsoever for tax years beginning on and after
January 1, 2010. Section four-e of this article, applicable to the
effect of any rate changes during a taxable year shall be construed
to include and also be applicable to the surtax imposed in this
section or any change of surtax hereafter during a taxable year.
(b)
Partners and partnerships. -- A partnership as such shall
not be subject to tax under this article. Persons carrying on
business as partners shall be liable for tax under this article
only in their separate or individual capacities.
(c)
Associations taxable as corporations. -- An association,
trust or other unincorporated organization which is taxable as a
corporation for federal income tax purposes, shall not be subject
to tax under this article.
(d)
Exempt trusts and organizations. -- A trust or other
unincorporated organization which by reason of its purposes or
activities is exempt from federal income tax shall be exempt from
tax under this article (regardless of whether subject to federal
income tax on unrelated business taxable income).
(e)
Cross references. -- For definitions of West Virginia taxable income of:
(1) Resident individual, see section eleven.
(2) Resident estate or trust, see section eighteen.
(3) Nonresident individual, see section
thirty-one thirty.
(4) Nonresident estate or trust, see section thirty-eight.
NOTE: The purpose of this bill is to provide for the
expiration of the alternative minimum tax.
Strike-throughs indicate language that would be stricken from
the present law and underscoring indicates new language that would
be added.
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