Bill > SB186

This bill exempts certain trusts from West Virginia personal income tax. Specifically, it provides an exemption for "non-grantor trusts," which are trusts that are not directly controlled by the grantor (the person who created the trust) in the way a grantor trust is defined by federal tax law. For these non-grantor trusts to be exempt, they must be administered within West Virginia, meaning they are either created under West Virginia law, have their "situs" (legal location) in the state, or are managed by a West Virginia resident individual trustee or a corporate trustee with a principal place of business and physical presence in the state. This exemption applies to tax years beginning on or after January 1, 2024, and aims to clarify and expand tax relief for trusts with a strong connection to West Virginia.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=186&year=2026&sessiontype=RS&btype=bill