West Virginia Code of State Rules
Agency 110 - Tax
Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT
Series 110-21 - Personal Income Tax
Section 110-21-5 - Effect Of Rate Changes During A Taxable Year
Universal Citation: 110 WV Code of State Rules 110-21-5
Current through Register Vol. XLI, No. 38, September 20, 2024
5.1. If the rate of personal income tax imposed by the West Virginia Personal Income Tax Act is changed to become effective after the thirty-first (31st) day of December of a calendar year, and if a taxpayer subject to the West Virginia Personal Income Tax Act has a taxable year which includes the effective date of the change (unless that date is the first day of the taxable year), then the following rules shall be observed in computing such taxpayer's rate of tax:
5.1.1. Tentative taxes shall be computed by
applying the rate for the period before the effective date of the change, and
the rate for the period on and after such date, to the taxable income for the
entire taxable year; and
5.1.2. The
tax for such taxable year shall be the sum of that proportion of each tentative
tax which the number of months in each period bears to the number of months in
the taxable year.
5.1.3. For
puposes of this Section:
5.1.3.1. If the rate
changes for taxable years beginning after or ending after a certain date, the
following day shall be considered the effective date of the change;
and
5.1.3.2. If a rate changes for
taxable years beginning on or after a certain date, that date shall be
considered the effective date of the change of rate.
Disclaimer: These regulations may not be the most recent version. West Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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