Exempts non-grantor trusts administered in West Virginia from personal income taxation.

West Virginia Senate Bill 186 amends the state's personal income tax code to exempt non-grantor trusts administered in the state from personal income taxation. This bill specifically targets non-grantor trusts, which are trusts not treated as grantor trusts under federal law, that have a tax situs in West Virginia. The exemption applies to these trusts regardless of whether they are administered by licensed private trust companies.

Exempts non-grantor trusts administered in West Virginia from personal income taxation.

West Virginia Senate Bill 186 amends the state's personal income tax code to exempt non-grantor trusts administered in the state from personal income taxation. This bill specifically targets non-grantor trusts, which are trusts not treated as grantor trusts under federal law, that have a tax situs in West Virginia. The exemption applies to these trusts regardless of whether they are administered by licensed private trust companies.