SB392 HFIN AMT

McO

The Committee on Finance moves to amend the title of the bill to read as follows:

Com. Sub. for S. B. 392 -- “A BILL to amend and reenact §11-17-4b and §11-21-4h of the Code of West Virginia, 1931, as amended; and to amend the code by adding a new section, designated §11-21-4j, relating to taxation; providing a reduction in personal income tax; modifying the effective date of future personal income tax reductions; providing for reduced graduated income tax rates; reducing the rate of tax on certain composite returns; reducing the rate of withholding tax on nonresident income; reducing the rate of withholding tax on the nonresident sale of real estate; reducing the rate of withholding on lottery winnings; applying reduced rates beginning on and after January 1, 2026; providing for contingent additional future reductions in the personal income tax rates when certain criteria have been met; increasing the excise tax on e-cigarettes on and after July 1, 2026; increasing recordkeeping requirements; providing civil, criminal and forfeiture penalties; prohibiting certain sales and distributions of e-cigarette liquid; providing rates of tax on inventory; defining terms; making technical corrections; making conforming amendments; and providing effective dates.”.

ADOPTED

REJECTED