Prevents credit card surcharge from including sales tax in West Virginia.
West Virginia HB4396 mandates that payment card networks must exclude sales tax from the calculation of interchange fees for electronic payment transactions. The bill requires networks to either deduct the tax amount from the interchange fees at the time of settlement or rebate a proportionate amount of the interchange fee. It also establishes a civil penalty for non-compliance, up to $1,000 per violation, and requires the refund of any surcharge to merchants or sellers.
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