Bill Text: WV HB2163 | 2018 | Regular Session | Introduced
Bill Title: Abolishing the Personal Income Tax
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2018-01-10 - To House Finance [HB2163 Detail]
Download: West_Virginia-2018-HB2163-Introduced.html
FISCAL
NOTE
WEST virginia legislature
2017 regular session
By
[
to the Committee on Finance.
A BILL to amend and
reenact §11-21-3 of the Code of West Virginia, 1931, as amended, relating to
abolishing the Personal Income Tax.
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; persons subject to tax.
(a)
Notwithstanding any other provision of this code, for tax years beginning after
December 31, 2017, the tax imposed by this section is abolished.
(a) (b) 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)
Minimum tax. -- In addition to the primary tax 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 primary tax imposed by this
section for the taxable year.
(3)
Effective date. -- The minimum tax herein imposed and made effective on
and after April 1, 1983, shall expire, be nullified and of no further force or
effect whatsoever for tax years beginning on and after January 1, 2010.
(b) (c) 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) (d) 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) (e) 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) (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.
(4)
Nonresident estate or trust, see section thirty-eight.
NOTE: The purpose of this bill is
to abolish the personal income 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.
