Establishes the West Virginia Tax Neutrality Act to remove gains and losses from investment metal bullion and coins from federal adjusted gross.
The West Virginia Tax Neutrality Act aims to modify state tax laws by excluding net capital gains and losses from the sale or exchange of investment metal bullion and coins from a taxpayer's federal adjusted gross income or federal taxable income. This act applies to individuals, corporations, and fiduciaries, ensuring that these transactions do not affect their state taxable income. The act is set to become effective upon enactment.
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