HB 2553
To exempt the first $20,000 of earnings from the state income tax for West Virginia residents
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill proposes to exempt the first $20,000 of a West Virginia resident’s income from state income tax. It would apply to individual West Virginians and married couples filing jointly. The change would be effective for tax years beginning on or after January 1, 2025. This measure aims to provide a tax break for lower-income West Virginia residents.
Key provisions
- Exempts the first $20,000 of West Virginia resident income from state income tax.
- Applies to both individual taxpayers and married couples filing jointly.
- Effective for tax years beginning on or after January 1, 2025.
- Reduces federal adjusted gross income by the exempted amount.
Who is affected
- West Virginia residents
- Married couples filing jointly in West Virginia
Notable changes
- Introduces a new exemption for the first $20,000 of income.
Fiscal impact
The bill is expected to reduce state tax revenue.
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yours