HB2526 HFA Rowe et al. 1-17

Delegates Rowe, Skaff, Fluharty, Griffith, Walker, Hansen, Williams, Young, E. Pritt, Pushkin, Garcia and Hornbuckle move to amend Com Sub for HB2526 on pages one through 5, following the enacting clause, by striking out the provisions of §11-21-4g, §11-21-4h and §11-21-4i from the bill, and inserting in lieu thereof, the following:

“§11-21-4g Rate of tax — Taxable years beginning on and after January 1, 2023.

(a) Rate of tax on individuals (except married individuals filing separate returns), individuals filing joint returns, heads of households, and estates and trusts. — The tax imposed by §11-21-3 of this code on the West Virginia taxable income of every individual (except married individuals filing separate returns); every individual who is a head of a household in the determination of his or her federal income tax for the taxable year; every husband and wife who file a joint return under this article; every individual who is entitled to file his or her federal income tax return for the taxable year as a surviving spouse; and every estate and trust shall be determined in accordance with the following table:

If the West Virginia taxable

income is: The tax is:

Over $80,000 $6.5% for all income over $80,000.

(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 §11-21-3 of this code 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:

Over $40,000 $6.5% of excess over $40,000

(c) Applicability of this section. — The provisions of this section shall be applicable in determining the rates of tax imposed by this article and shall apply retroactively for all taxable years beginning on and after January 1, 2023 and shall be in lieu of the rates of tax specified in §11-21-4e of this code.”