H. B. 3206
(By Delegate Michael)
[Introduced March 30, 2001; referred to the
Committee on Finance.]
A BILL to amend and reenact section five-k, article ten, chapter
eleven of the code of West Virginia, one thousand nine hundred
thirty-one, as amended, relating to the West Virginia Tax
Procedure and Administration Act; and requiring taxes
administered under that act to be rounded to the nearest
dollar.
Be it enacted by the Legislature of West Virginia:
That section five-k, article ten, chapter eleven of the code
of West Virginia, one thousand nine hundred thirty-one, as amended,
be amended and reenacted to read as follows:
ARTICLE 10. PROCEDURE AND ADMINISTRATION.
§11-10-5k. Fractional parts of a cent and dollar.
In the reporting and payment of any tax administered by under
this article, a fractional part of a cent shall be disregarded
unless it amounts to one-half cent or more, in which case it shall be increased to one cent; and a fractional part of a dollar shall
be disregarded unless it amounts to one-half dollar or more, in
which case it shall be increased to one dollar.
NOTE: The purpose of this bill is to require that taxes
administered by the state tax department be rounded to the nearest
dollar when they are reported and paid.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.