This bill aims to amend the West Virginia Code by eliminating the accelerated tax payment requirements for consumers sales and use taxes, as well as withholding taxes. Specifically, it proposes to remove the provisions in sections 11-15-16(g), 11-15A-10(f), and 11-21-74(d) that mandate taxpayers and employers to remit taxes attributable to the first fifteen days of June by specific deadlines if their average monthly payments exceed $100,000. The bill states that these provisions shall 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 sufficient notice regarding their tax obligations. The changes are intended to simplify the tax payment process and alleviate the financial burden on businesses that are required to make large tax payments in a short timeframe. Overall, the bill reflects a legislative effort to streamline tax compliance for West Virginia taxpayers.

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