Senate Bill No. 1008
(By Senators Tomblin, Mr. President, and Sprouse, By Request of
the Executive)
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[Introduced March 17, 2002.]
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A BILL to amend and reenact section nine, article twenty-one,
chapter eleven of the code of West Virginia, one thousand nine
hundred thirty-one, as amended, relating to updating the
meaning of certain terms used in the West Virginia personal
income tax act by bringing them into conformity with their
meanings for federal income tax purposes; and specifying
effective date.
Be it enacted by the Legislature of West Virginia:
That section nine, article twenty-one, 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 21. PERSONAL INCOME TAX.
§11-21-9. Meaning of terms.
(a) Any term used in this article has the same meaning as when
used in a comparable context in the laws of the United States relating to income taxes, unless a different meaning is clearly
required. Any reference in this article to the laws of the United
States means the provisions of the Internal Revenue Code of 1986,
as amended, and any other provisions of the laws of the United
States that relate to the determination of income for federal
income tax purposes. All amendments made to the laws of the United
States after the thirty-first day of December, two thousand one,
but prior to the
first fifteenth day of
January March, two thousand
two, shall be given effect in determining the taxes imposed by this
article to the same extent those changes are allowed for federal
income tax purposes, whether the changes are retroactive or
prospective, but no amendment to the laws of the United States made
on or after the
first fifteenth day of
January March, two thousand
two, shall be given any effect.
(b)
Medical savings accounts. -- The term "taxable trust" does
not include a medical savings account established pursuant to
section twenty, article fifteen, chapter thirty-three of this code
or section fifteen, article sixteen of said chapter. Employer
contributions to a medical savings account established pursuant to
said sections, are not "wages" for purposes of withholding under
section seventy-one of this article.
(c)
Surtax. -- The term "surtax" means the twenty percent
additional tax imposed on taxable withdrawals from a medical
savings account under section twenty, article fifteen, chapter thirty-three of this code and the twenty percent additional tax
imposed on taxable withdrawals from a medical savings account under
section fifteen, article sixteen of said chapter which are
collected by the tax commissioner as tax collected under this
article.
(d)
Effective date. -- The amendments to this section enacted
in the year two thousand two are retroactive to the extent
allowable under federal income tax law. With respect to taxable
years that begin prior to the
first fifteenth day of
January March,
two thousand
one two, the law in effect for each of those years
shall be fully preserved as to that year, except as provided in
this section.
Note: The purpose of this bill is to conform the term
"federal adjusted gross income" as used in the West Virginia
Personal Income Tax Act to the meaning of "federal adjusted gross
income" for federal income tax purposes after enactment by
Congress of the "Job Creation and Worker Assistance Act of 2002."
This bill needs to be made effective from passage.
Strike-throughs indicate language in present law that would
be deleted; and underscoring indicates new language that would be
added.
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