West Virginia Code of State Rules
Agency 110 - Tax
Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT
Series 110-10E - Tax Shelter Voluntary Compliance Program
Section 110-10E-2 - Legislative Intent, Findings and Purpose

Universal Citation: 110 WV Code of State Rules 110-10E-2

Current through Register Vol. XLI, No. 38, September 20, 2024

2.1. Intent - It is the intent of the Legislature in enacting the Tax Shelter Voluntary Compliance Act to improve compliance with this State's tax laws and to accelerate and increase collections of certain taxes currently owed to this State.

2.2. Findings and purpose - It is the Legislature's finding that the public purpose is served by the waiver of tax penalties, and civil or criminal prosecution, in return for the reporting and payment of previously underreported, unreported, unpaid, or underpaid tax liabilities as a result of participation in a tax avoidance transaction that are due and owing for taxable years beginning before January 1, 2006.

2.2.1. The Tax Commissioner will consider the public purpose of the Tax Shelter Voluntary Compliance Act when interpreting and applying its provisions. There will be no waiver of penalties or civil or criminal prosecution unless and until all requirements of the Voluntary Compliance Act are fulfilled.

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