Bill > SB496

This bill proposes to allow individuals to reduce their federal adjusted gross income, which is the starting point for calculating state income tax, by the amount of certain retirement income they receive. Specifically, it allows for a subtraction of retirement allowances, pensions, and annuities paid under various federal retirement systems, including Social Security, the Railroad Retirement Act, and the Federal Civil Service Retirement Act, as well as retirement benefits from West Virginia's Public Employees' Retirement System or any other state or local government retirement system. This exemption will also extend to a surviving spouse or beneficiary after the primary retiree's death. The Tax Commissioner is authorized to create rules to ensure consistent application of these provisions across the state, and these changes will be effective for tax years beginning on or before January 1, 2027.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=496&year=2026&sessiontype=RS&btype=bill