Bill Text: WV SB98 | 2023 | Regular Session | Introduced
Bill Title: Exempting capital gains from personal and corporate taxation
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2023-01-11 - To Finance [SB98 Detail]
Download: West_Virginia-2023-SB98-Introduced.html
WEST VIRGINIA LEGISLATURE
2023 REGULAR SESSION
FISCAL NOTE
Senate Bill 98
By Senator Nelson
[Introduced January 11, 2023; 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 §11-21-80; and to amend said code by adding thereto a new section, designated §11-24-26, all relating to exempting capital gains from personal and corporate taxation.
Be it enacted by the Legislature of West Virginia:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-80. Capital gain exemption.
Capital gains, whether long-term or short-term, are exempt from the tax imposed by this article.
ARTICLE 24. CORPORATION NET INCOME TAX.
§11-24-26. Capital gain exemption.
Capital gains, whether long-term or short-term, are exempt from the tax imposed by this article.
NOTE: The purpose of this bill is to exempt taxing capital gains on either personal income of corporate income.
Strike-throughs indicate language that would be stricken from a heading or the present law, and underscoring indicates new language that would be added.
