HB 3231
Relating to withholding tax on income of nonresidents from natural resources royalty payments
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 establishes a system for withholding West Virginia personal income tax on natural resources royalty payments made to nonresidents. Lessees of West Virginia real estate who receive these payments are required to deduct and withhold a percentage of the payments, similar to estimated tax liability, and remit those funds to the Tax Commissioner on behalf of the nonresident lessor. The bill includes provisions for annual statements, reconciliation, electronic filing, and penalties for non-compliance, aiming to increase state tax revenue from natural resource income.
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