HB 2235 H VA AM 3-11
The Committee on Veterans Affairs and Homeland Security moves to amend the bill on page 1, section 3, line 18, by striking all of section 3 and inserting in lieu thereof the following:
"§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 ten thousand dollars and for those filing a joint return with West Virginia taxable income in excess of twenty thousand dollars; 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 the first day of April, one thousand nine hundred eighty-three: Provided, That the temporary surtax shall expire, be nullified and of no further force or effect whatsoever after the thirtieth day of June, one thousand nine hundred eighty-five. 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) Veterans of the Armed Forces -- for tax years beginning on or after January 1, 2010, a veteran of the United States Armed Forces who has been honorably discharged is exempt from the tax imposed in this article for a period of one year, subject, however to the requirements of this subsection. The veteran must be a resident of and physically residing in this state during the period of time the exemption is claimed. A veteran is eligible for the exemption in any year period within two years following the date of honorable discharge from the United States Armed Forces. As used in this subsection, "veteran" has the same meaning as defined in section seven, article one, chapter nine-a of this code.
(e)(f) 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.
(4) Nonresident estate or trust, see section thirty-eight."
Adopted
Rejected