summary
Introduced
03/09/2021
03/09/2021
In Committee
03/09/2021
03/09/2021
Crossed Over
Passed
Dead
04/10/2021
04/10/2021
Introduced Session
2021 Regular Session
Bill Summary
Relating to personal income tax reduction
AI Summary
This bill:
This bill proposes to reduce the personal income tax rate on West Virginia taxable nonbusiness personal income, while increasing the rate on West Virginia taxable unearned and business personal income. It also creates a new excise tax on the sale of luxury items, increases the tax rates on various other items like soft drinks, nonintoxicating beer, and e-cigarette liquid, and provides a refundable sales tax relief credit to lower-income residents. The bill aims to modernize the state's tax system and generate additional revenue, while providing some targeted tax relief to certain taxpayers.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
To Finance (on 03/09/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=600&year=2021&sessiontype=RS&btype=bill |
| Fiscal Note - Tax & Revenue Department, WV State | http://www.wvlegislature.gov/Fiscalnotes/FN(2)/fnsubmit_recordview1.cfm?RecordID=800991208 |
| BillText | http://www.wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=SB600%20INTR.htm&yr=2021&sesstype=RS&i=600 |
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