Bill
Bill > HB4125
summary
Introduced
01/14/2026
01/14/2026
In Committee
01/14/2026
01/14/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
The purpose of this bill is to alleviate double taxation on foreign income at the state level. The bill sunsets the credit for income tax paid on foreign income in 2070.
AI Summary
This bill amends West Virginia's tax code to allow residents to claim a credit for income taxes paid to foreign countries, thereby preventing double taxation on that income at the state level. Previously, this credit was only available for taxes paid to other U.S. states or the District of Columbia. The bill clarifies that this new credit for foreign income tax is only allowed if double taxation would otherwise occur after considering federal tax provisions, and it will expire on July 1, 2070.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
To House Finance (on 01/14/2026)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=4125&year=2026&sessiontype=RS&btype=bill |
| Fiscal Note - Tax & Revenue Department, WV State | http://www.wvlegislature.gov/Fiscalnotes/FN(2)/fnsubmit_recordview1.cfm?RecordID=938686461 |
| BillText | http://www.wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=hb4125%20intr.htm&yr=2026&sesstype=RS&i=4125 |
Loading...