ENROLLED
Senate Bill No. 358
(By Senators Craigo, Bowman, Bailey, Jackson, Fanning, Sharpe,
Minard, Helmick, Ross, Anderson, Love, Minear, Sprouse, Walker,
Chafin,
Dittmar, Hunter, Kessler, Tomblin and Oliverio)
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[Passed March 9, 1999; in effect ninety days from passage.]
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AN ACT to amend and reenact section one, article twenty-two,
chapter eleven of the code of West Virginia, one thousand
nine hundred thirty-one, as amended, relating to real estate
transfer taxes; exempting certain transfers between
grandparent and grandchild; exempting certain transfers made
pursuant to conversions to limited liability companies from
corporations, partnerships, limited partnerships or trusts;
exempting certain transfers made pursuant to mergers of
limited liability companies, partnerships, limited
partnerships, testamentary or inter vivos trusts; and
defining the term limited liability company.
Be it enacted by the Legislature of West Virginia:
That section one, article twenty-two, chapter eleven of the code of West Virginia one thousand nine hundred thirty-one, as
amended, be amended and reenacted to read as follows:
ARTICLE 22. EXCISE TAX ON PRIVILEGE OF TRANSFERRING REAL
PROPERTY.
§11-22-1. Definitions.
The following words when used in this chapter shall have
meanings ascribed to them in this section, except in those
instances where the context clearly indicates a different meaning
As used in this chapter:
(1) "Association" means a partnership, limited partnership
or any other form of unincorporated enterprise, owned or
conducted by two or more persons.
(2) "Corporation" means a corporation or joint-stock
association, organized under the laws of this state, the United
States or any other state, territory or foreign country or
dependency including, but not limited to, banking institutions.
(3) "Commissioner" means the state tax commissioner.
(4) "Document" means any deed, or instrument or writing
whereby by
which any real property within this state or any interest
therein
shall be in real
property is granted, conveyed or otherwise transferred to the
grantee, purchaser or any other person; but does not include wills, transfer of real property where the value of the property
transferred is one hundred dollars or less, testamentary or inter
vivos trusts, deeds of partition, deeds made pursuant to mergers
of corporations,
limited liability companies, partnerships,
limited partnerships, testamentary or inter vivos trusts, deeds
made pursuant to conversions to limited liability companies from
corporations, partnerships, limited partnerships or trusts, deeds
made by a subsidiary corporation to its parent corporation for no
consideration other than the cancellation or surrender of the
subsidiary's stock, leases, transfers between husband and wife,
transfers between parent and child or transfers between parent
and child and his or her spouse, without consideration,
transfers
between grandparent and grandchild or transfers between
grandparent and grandchild and his or her spouse, without
consideration, transfers without consideration between a
principal and straw party for any purpose, gifts to or transfers
from or between voluntary charitable or educational associations
or trustees
thereof of voluntary charitable or educational associations
and like nonprofit corporations having the same or similar
purposes, quitclaim or corrective deeds without consideration,
transfers to or from the United States, the state of West Virginia, or to or from any of their instrumentalities, agencies
or political subdivisions, by gift, dedication, deed or
condemnation proceedings, or mortgages or deeds of trust given as
security for a debt.
(5) "Limited liability company" means a limited liability
company organized under the laws of this state, the United States
or by any other state, territory or the District of Columbia.
(6) "Person" means every natural person, association or
corporation. Whenever used in any clause prescribing and
imposing a fine or imprisonment, or both, the term "person" as
applied to associations,
shall mean means the partners or members
thereof of the
association, and, as applied to corporations, the officers
thereof of the
corporation.
(7) "Transaction" means the delivering, accepting or
presenting for recording of a document.
(8) "Value" means in the case of any document not a gift, the
amount of the full actual consideration
therefor for the document, paid or
to be paid, including the amount of any lien or liens assumed; in
the case of a gift, or any other document without consideration,
the actual monetary value of the property conveyed or
transferred. In the event any document includes real property or any interest
therein in real property lying outside the state of West
Virginia or includes personal property, value
shall be is the proportion
of the consideration paid in case of the transfer for
consideration, or the proportion of the true and actual value in
case of a gift, which the actual value of the real property
located in West Virginia bears to the total actual value of all
the property, real or personal, transferred by the document. The
value as
herein defined
in this subdivision shall be stated in the
declaration of consideration or value provided for in section six
hereof
of this article.