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 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 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 shift towards a more manageable tax payment schedule for businesses and individuals in West Virginia.

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