Bill Text: WV HB4506 | 2014 | Regular Session | Introduced
Bill Title: Relating to personal income tax rates
Spectrum: Partisan Bill (Democrat 8-0)
Status: (Introduced - Dead) 2014-02-13 - To House Finance [HB4506 Detail]
Download: West_Virginia-2014-HB4506-Introduced.html
H. B. 4506
(By Delegates D. Poling, White, Marcum,
Manchin, Caputo, Morgan, Walker and Guthrie)
[Introduced February 13, 2014; referred to the
Committee on Finance.]
A BILL to amend and reenact §11-21-4e of the Code of West Virginia, 1931, as amended, relating to decreasing the personal income tax rates for certain taxpayers and raising the personal income tax rates for certain other taxpayers.
Be it enacted by the Legislature of West Virginia:
That §11-21-4e of the Code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-4e. Rate of tax -- Taxable years beginning on or after January 1, 2015.
(a) Rate of tax on individuals (except 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 (except married individuals filing separate returns); 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; 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 shall be determined in accordance with the following table:
If the West Virginia
taxable income is: The tax is:
Not over $10,000 3% of the taxable income
Over $l0,000 but not $300.00 plus 4% of excess
over $25,000 over $10,000
Over $25,000 but not $900.00 plus 4.5% of excess
over $40,000 over $25,000
Over $40,000 but not $1,575.00 plus 6% 5% of excess
over $60,000 over $40,000
Over $60,000 but not $2,775.00 $2,575 plus 6.5% 5.5% over $85,000 of excess over $60,000
Over $85,000 but not $3,950.00 plus 6.25% of excess
over $85,000
over $115,000
Over $115,000 but not $5,825.00 plus 7% of excess
over $115,000
over $150,000
Over $150,000 but not $8,275.00 plus 8.5% of excess
over $150,000
over $250,000
Over $250,000 $16,775.00 plus 8.9% of excess
over $150,000
(b) Rate of tax on married individuals filing separate returns. -- In the case of husband and wife filing separate returns under this article for the taxable year, the tax imposed by section three of this article on the West Virginia taxable income of each spouse shall be determined in accordance with the following table:
If the West Virginia
taxable income is: The tax is:
Not over $5,000 3% of the taxable income
Over $5,000 but not $l50.00 plus 4% of excess
over $l2,500 over $5,000
Over $l2,500 but not $450.00 plus 4.5% of
over $20,000 excess over $l2,500
Over $20,000 but not $787.50 plus 6% 5% of excess
over $30,000 over $20,000
Over $30,000 but not $l,387.50 $1,287.50 plus 6.5% over $42,500 5.5% of excess over $30,000 Over $42,500 but not $1,975.00 plus 6.25% of excess
over $42,500
over $57,5000
Over $57,500 but not $2,912.50 plus 7% of excess
over $57,500
over $75,000
Over $75,000 but not $4,137.50 plus 8.5% of excess
over $75,000
over $125,000
Over $125,000 $8,387.50 plus 8.9% of excess
over $125,000
(c) Applicability of this section. -- The provisions of this section, as amended by this act, shall be applicable in determining the rate of tax imposed by this article for all taxable years beginning after December 31, 1986 2014, and shall be in lieu of the rates of tax specified in section four-d of this article.
NOTE: The purpose of this bill is to decrease the personal income tax rates for certain taxpayers and raising the personal income tax rates for certain other taxpayers.
Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.
