SB 307
Tax Department rule relating to income tax credits for property taxes paid
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- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill authorizes the West Virginia Tax Department to create a rule explaining how West Virginians can claim an income tax credit for property taxes they pay. The rule will clarify the requirements and procedures for receiving this credit. It builds upon existing authority granted to the Tax Department to create administrative rules. This legislation focuses on providing clarity and standardization for property tax credit claims.
Key provisions
- Authorizes the Tax Department to create a rule.
- The rule will address income tax credits for property taxes paid.
- The rule is subject to review by the Legislative Rule-Making Review Committee.
- The rule is based on existing authority in West Virginia Code.
Who is affected
- Taxpayers in West Virginia
- The West Virginia Tax Department
- Property owners in West Virginia
Notable changes
- Establishes a formal process for claiming property tax credits against income tax.
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