SB409 SFA Karnes 3-28 #1

Adkins 7913

Senator Karnes moved to amend the bill on page thirty-four, section four-g, line nine, after the word “is” by striking out the remainder of the bill and inserting in lieu thereof the following:

Not over $20,000                                                                    1.85% of the taxable income

Over $20,000 but not over $35,000                                        $370.00 plus 3.65% of excess

Over $35,000                                                                          $917.50 plus 5.45% of excess.

(b) Rate of tax on married individuals filing separate returns. -- In the case of husband and wife filing separate returns under this article for the taxable year, the tax imposed by section three of this article on the West Virginia taxable income of each spouse shall be determined in accordance with the following table:

If the West Virginia taxable income is:                                   The tax is:

Not over $10,000                                                                    1.85% of the taxable income

Over $10,000 but not over $17,500                                        $185.00 plus 3.65% of excess

Over $17,500                                                                          $ 458,75 plus 5.45% of excess.

(c)  For the tax years beginning on and after January 1, 2019, the rates of tax imposed by this article, in each of the income brackets shown in subsections (a) and (b) of this section, shall be reduced by one-tenth of one percentage point for each $50 million by which the actual combined collections of the consumers sales and service tax imposed under article fifteen of this chapter and of the use tax, imposed under article fifteen-a of this chapter, exceed $1.8 billion for the fiscal year ending six months prior to January 1 of each tax year, until the rates of the tax imposed by this article are each zero percent: Provided, That once the rate of the tax imposed by this article has been reduced pursuant to this subsection, that rate shall not again be raised:  Provided, further, That each and every provision of this article is repealed for all tax periods beginning on and after January 1 of the first year in which the rate of the tax in each of the income brackets shown in subsections (a) and (b) of this section  is zero percent:  Provided, however, That tax liabilities, if any, arising for taxable periods prior to the date the tax is thus repealed, shall be determined, administered, assessed and collected as if the tax imposed by this article had not been repealed, and the rights and duties of taxpayers and the state shall be fully and completely preserved.

Adopted

Rejected