HB 4347
To remove income tax from overtime work
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill proposes to remove state income tax from overtime work and tips/gratuities earned by West Virginia employees. It amends West Virginia’s adjusted gross income calculation to exclude these amounts from gross income. The bill also includes modifications to federal adjusted gross income to account for various deductions and credits, including those related to military retirement income and social security benefits. Notably, the bill includes adjustments for fiduciary income and addresses how it applies to married couples filing jointly.
Key provisions
- Excludes overtime work and tips/gratuities earned by full-time hourly employees from West Virginia income tax.
- Modifies the calculation of West Virginia adjusted gross income to align with federal adjusted gross income, incorporating specific deductions and credits.
- Includes adjustments for military retirement income, including multiple tiers based on years of service and benefit amounts.
- Addresses social security benefits, with decreasing modifications based on income levels.
- Provides modifications for estate and trust beneficiaries.
- Specifies how the bill applies to married couples filing jointly.
- Includes effective date provisions for various changes to the law.
Who is affected
- West Virginia Employees
- Wage Earners
- Taxpayers
- The State of West Virginia
- Individuals receiving retirement benefits
Notable changes
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