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 repeals the provisions in sections 11-15-16(g), 11-15A-10(f), and 11-21-74(d) that mandated taxpayers and employers with average monthly payments exceeding $100,000 to remit taxes attributable to the first fifteen days of June by specific deadlines. The bill states that these provisions will no longer have any force or effect upon passage, thereby relieving taxpayers of the obligation to make these advanced payments.

The bill also ensures that taxpayers are given sufficient notice regarding the termination of these accelerated payment requirements. By removing these obligations, the legislation aims to simplify the tax payment process for businesses and individuals, potentially easing their financial burden and improving compliance with tax regulations. Overall, the bill reflects a shift towards a more flexible tax payment structure in West Virginia.

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