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Introduced Version House Bill 2934 History

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

FISCAL NOTEWEST virginia legislature

2017 regular session

Introduced

House Bill 2934

By Delegates Nelson, Householder, Moore and Capito

[Introduced March 10, 2017; Referred
to the Committee on Finance.
]

A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-21-4g, relating to eliminating the tax brackets under the personal income tax and changing the rate of the tax.

Be it enacted by the Legislature of West Virginia:


That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §11-21-4g to read as follows:

ARTICLE 21. PERSONAL INCOME TAX.


§11-21-4g. Rate of tax -- Taxable years beginning on or after January 1, 2018.

(a) Rate of tax on individuals, 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; 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; married individuals filing separate returns; 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, is five and one-tenth percent of the taxable income.

(b) Applicability of this section. -- The provisions of this section are applicable in determining the rate of tax imposed by this article for all taxable years beginning after December 31, 2017, and are in lieu of the rates of tax specified in section four-e of this article.


 

NOTE: The purpose of this bill is to eliminate the tax brackets under the personal income tax and change the rate of the tax.

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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