Exempts capital gains from gold, silver, and cryptocurrency from personal income tax in West Virginia.
West Virginia SB866 proposes to amend the state's personal income tax code by exempting capital gains from gold, silver, and cryptocurrency. This bill defines "cryptocurrency" as a digital currency verified by a decentralized system and "precious metal bullion" as coins, bars, or rounds of refined gold and silver. The exemption applies to net capital gains from the exchange of these assets, reducing the taxable income for individuals who engage in such transactions.
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