The bill amends sections of the West Virginia Code related to tax payment requirements, specifically eliminating the accelerated payment requirements for certain taxpayers. Under the previous law, taxpayers whose average monthly tax payments exceeded $100,000 were required to remit taxes attributable to the first fifteen days of June by June 20. The new legislation repeals this accelerated payment requirement, as indicated by the deletion of the provisions in 11-15-16(g) and 11-15A-10(f), as well as 11-21-74(d).

Additionally, the bill maintains the standard monthly payment schedule for taxes due, which remains payable on or before the twentieth day of the month following the month in which the tax accrued. The Tax Commissioner retains the authority to establish rules and procedures for tax returns and payments, ensuring compliance with the amended regulations. Overall, the bill aims to simplify tax payment processes for businesses and individuals by removing the obligation for accelerated payments.

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