WV HB4662 | 2024 | Regular Session

West Virginia House Bill 4662 (Prior Session Legislation)

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 12 2024 - 25% progression, died in committee
Action: 2024-01-12 - To House Finance
Pending: House Finance Committee
Text: Latest bill text (Introduced) [HTML]

Summary

The purpose of this bill is to require lessees of West Virginia real estate who make natural resources royalty payments for in-state property to any nonresident lessor, to withhold West Virginia personal income tax on natural resources royalty payments. The bill provides exceptions, penalties, defines terms and grants rule-making authority.

Title

Relating to withholding tax on income of nonresidents from natural resources royalty payments

History

Date	Chamber	Action
2024-01-12	House	To House Finance
2024-01-12	House	Introduced in House
2024-01-12	House	To Finance
2024-01-12	House	Filed for introduction

Subjects

Taxation

Code Citations

Chapter	Article	Section	Citation Type	Statute Text
11	21	71c	New Code	See Bill Text

West Virginia State Sources

Type	Source
Summary	http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=4662&year=2024&sessiontype=RS&btype=bill
Text	http://www.wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=hb4662%20intr.htm&yr=2024&sesstype=RS&i=4662
Supplement	http://www.wvlegislature.gov/Fiscalnotes/FN(2)/fnsubmit_recordview1.cfm?RecordID=887278966