West Virginia SB460 exempts tips and overtime compensation from state personal income tax.

West Virginia SB460 amends the state's personal income tax code to exempt tips and overtime compensation from state income tax. The bill specifies that tips, including cash tips, electronic settlements, non-cash tips, tip pools, and allocated tips, as well as overtime compensation, are not subject to state income tax. The bill aims to encourage economic development and workforce participation by reducing the tax burden on service industry workers and those working overtime. The changes apply to taxable years beginning on and after January 1, 2027.

West Virginia SB460 exempts tips and overtime compensation from state personal income tax.

West Virginia SB460 amends the state's personal income tax code to exempt tips and overtime compensation from state income tax. The bill specifies that tips, including cash tips, electronic settlements, non-cash tips, tip pools, and allocated tips, as well as overtime compensation, are not subject to state income tax. The bill aims to encourage economic development and workforce participation by reducing the tax burden on service industry workers and those working overtime. The changes apply to taxable years beginning on and after January 1, 2027.