Bill > HB4741

This bill requires businesses that lease West Virginia real estate and make payments for natural resources royalties to withhold West Virginia personal income tax from those payments and send the withheld taxes to the Tax Commissioner. A "lessor" is defined as anyone, including individuals, businesses, or trusts, who leases property for natural resource extraction, and "natural resources" encompass a wide range of minerals, timber, and other materials found in the state. A "natural resources royalty payment" is defined as a payment made to the owner of the rights to extract these resources, typically through a lease agreement. The bill mandates that lessees provide annual statements to lessors detailing the payments made and taxes withheld, and they must file withholding returns and remit the collected taxes to the Tax Commissioner, with specific deadlines and potential penalties for non-compliance. The Tax Commissioner is granted authority to establish rules for the withholding process, including payment schedules and electronic filing requirements for lessees with 25 or more lessors, and can also issue emergency rules. These provisions will take effect for taxable years beginning after December 31, 2026.

Transportation and Infrastructure

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=4741&year=2026&sessiontype=RS&btype=bill