Eliminates capital gains tax on precious metal bullion in West Virginia.

West Virginia SB926 amends the state's personal income tax code to exclude capital gains from the exchange or sale of precious metal bullion from gross income. Precious metal bullion is defined as coins, bars, or rounds containing primarily refined gold, silver, platinum, or palladium. The bill sets an effective date for changes enacted in 2026 to apply retroactively to taxable years beginning after December 31, 2025. This change aims to exempt certain capital gains from state income tax, impacting individuals and entities holding or trading precious metal bullion.

Eliminates capital gains tax on precious metal bullion in West Virginia.

West Virginia SB926 amends the state's personal income tax code to exclude capital gains from the exchange or sale of precious metal bullion from gross income. Precious metal bullion is defined as coins, bars, or rounds containing primarily refined gold, silver, platinum, or palladium. The bill sets an effective date for changes enacted in 2026 to apply retroactively to taxable years beginning after December 31, 2025. This change aims to exempt certain capital gains from state income tax, impacting individuals and entities holding or trading precious metal bullion.