This bill aims to amend the West Virginia Code by eliminating the accelerated tax payment requirements for consumers sales and service tax, use tax, and personal income tax withholding. Specifically, it proposes to remove the provisions that require taxpayers whose average monthly payments exceed $100,000 to remit taxes attributable to the first fifteen days of June by June 20 or June 23, depending on the tax type. The bill includes the insertion of new language stating that the provisions related to accelerated payments in sections 11-15-16(g), 11-15A-10(f), and 11-21-74(d) will no longer have any force or effect upon passage.

By terminating these accelerated payment requirements, the bill seeks to provide taxpayers with more flexibility and reduce the financial burden associated with early tax remittances. The changes are intended to streamline the tax payment process and ensure that taxpayers are given adequate notice regarding their obligations. Overall, the bill reflects a legislative effort to simplify tax compliance for businesses and individuals in West Virginia.

Statutes affected:
Introduced Version: 11-15-16, 11-15A-10, 11-21-74