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Bill > SB600


WV SB600

WV SB600
Relating to personal income tax reduction


summary

Introduced
03/09/2021
In Committee
03/09/2021
Crossed Over
Passed
Dead
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)

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