Bill > SB710

This bill amends West Virginia's tax code to allow residents to claim a credit for income taxes paid to foreign countries, in addition to other U.S. states and the District of Columbia, on income that is also taxed by West Virginia, thereby preventing double taxation. This credit is specifically for situations where double taxation of foreign income would otherwise occur after considering federal tax rules. The bill clarifies how taxes paid by "pass-through entities" (like partnerships or S-corporations) to other states are handled for their owners, ensuring owners get credit for taxes paid on their share of the entity's income. Importantly, this new provision for foreign country income tax credits will expire, or "sunset," on July 1, 2070.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=710&year=2026&sessiontype=RS&btype=bill