West Virginia SB710 aims to prevent double taxation on foreign income at the state level.

West Virginia SB710 amends the personal income tax to alleviate double taxation on foreign income at the state level. It allows a credit for income tax paid to another state or foreign country, ensuring that the tax due under West Virginia's personal income tax does not exceed the amount that would have been due if the income subject to foreign taxation were excluded. The credit is subject to limitations and a sunset provision, ending in 2070.

West Virginia SB710 aims to prevent double taxation on foreign income at the state level.

West Virginia SB710 amends the personal income tax to alleviate double taxation on foreign income at the state level. It allows a credit for income tax paid to another state or foreign country, ensuring that the tax due under West Virginia's personal income tax does not exceed the amount that would have been due if the income subject to foreign taxation were excluded. The credit is subject to limitations and a sunset provision, ending in 2070.