H. B. 4289
(By Delegate Ennis)
[Introduced January 25, 2008; referred to the
Committee on Finance.]
A BILL to amend and reenact the Code of West Virginia, 1931, as
amended, by adding thereto a new section, designated
§11-10-19b, relating to the elimination of penalties
associated with the underpayment of personal income taxes owed
by residential individuals.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended
and reenacted by adding thereto a new section, designated as
§11-10-19b, to read as follows:
ARTICLE 10. WEST VIRGINIA TAX PROCEDURE AND ADMINISTRATION ACT.
§11-10-9b. Elimination of penalties for underpayment.
Notwithstanding any other provision
of the code to the
contrary, all penalties associated with the underpayment of
personal income taxes is hereby eliminated: Provided, That a tax
payer files a residential individual tax return, including payment for the amount of any tax due, on or before the date fixed for the
filing of such return.
NOTE: The purpose of this bill is to eliminate penalties
associated with the underpayment of taxes owed from a person who is
a resident individual, provided a personal income tax is timely
filed and payment of any tax due is made at that time.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.