Enrolled Version - Final Version
Senate Bill 410 History
OTHER VERSIONS -
Senate Bill No. 410
(By Senators Tomblin (Mr. President) and Caruth,
By Request of the Executive)
[Passed March 23, 2009; in effect from passage.]
AN ACT to amend and reenact §11-24-3 of the Code of West Virginia,
1931, as amended, relating to updating the meaning of "federal
taxable income" and certain other terms used in the West
Virginia Corporation Net Income Tax Act in order for the
definitions to conform with the Internal Revenue Code's
Be it enacted by the Legislature of West Virginia:
That §11-24-3 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 24. CORPORATION NET INCOME TAX.
§11-24-3. Meaning of terms; general rule.
(a) Any term used in this article has the same meaning as when
used in a comparable context in the laws of the United States
relating to federal income taxes, unless a different meaning is
clearly required by the context or by definition in this article.
Any reference in this article to the laws of the United States means the provisions of the Internal Revenue Code of 1986, as
amended, and any other provisions of the laws of the United States
that relate to the determination of income for federal income tax
purposes. All amendments made to the laws of the United States
after December 31, 2007, but prior to February 18, 2009, shall be
given effect in determining the taxes imposed by this article to
the same extent those changes are allowed for federal income tax
purposes, whether the changes are retroactive or prospective, but
no amendment to the laws of the United States made on or after
February 18, 2009, shall be given any effect.
(b) The term "Internal Revenue Code of 1986" means the
Internal Revenue Code of the United States enacted by the federal
Tax Reform Act of 1986 and includes the provisions of law formerly
known as the Internal Revenue Code of 1954, as amended, and in
effect when the federal Tax Reform Act of 1986 was enacted that
were not amended or repealed by the federal Tax Reform Act of 1986.
Except when inappropriate, any reference in any law, executive
order or other document:
(1) To the Internal Revenue Code of 1954 includes a reference
to the Internal Revenue Code of 1986; and
(2) To the Internal Revenue Code of 1986 includes a reference
to the provisions of law formerly known as the Internal Revenue
Code of 1954.
(c) Effective date. -- The amendments to this section enacted
in the year 2009 are retroactive to the extent allowable under federal income tax law. With respect to taxable years that began
prior to January 1, 2010, the law in effect for each of those years
shall be fully preserved as to that year, except as provided in