SB680

West Virginia SB680 repeals personal and corporate income taxes, effective July 1, 2026.

West Virginia SB680 repeals the personal income tax and corporate net income tax, aiming to improve economic competitiveness and attract new residents and businesses. The repeal takes effect July 1, 2026, with no personal income tax imposed on income earned after January 1, 2028, and no corporate net income tax imposed for taxable years beginning after January 1, 2028. The bill also mandates the termination of tax liability for certain periods and requires the State Tax Commissioner to implement transitional administration and record retention requirements.