Bill > HB4625

This bill modifies West Virginia's excise tax laws by redefining what constitutes a "document" for tax purposes, specifically impacting transfers of real property. While it removes the exemption for certain transfers, it introduces new exemptions, including transfers of property valued at one thousand dollars or less (with a specific method for determining value based on assessed value), deeds without consideration between an individual and a wholly-owned limited liability company, deeds between siblings without consideration, and deeds for oil, gas, or other minerals without consideration. The bill also clarifies definitions related to family transfers, expanding them to include adopted children, stepchildren, and their lineal descendants, as well as biological and adoptive parents and grandparents, and explicitly includes transfers between siblings without consideration. Additionally, it updates the definition of "person" to include member-managed staff of limited liability companies and clarifies the definition of "value" for documents without consideration.

Justice

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=4625&year=2026&sessiontype=RS&btype=bill