West Virginia Tax Division Proclaims Conformity With Federal Legal guidelines Regarding Taxable Earnings

Daily Tax Report: State

March 1, 2021, 5:00 AM


The West Virginia State Tax Department March 1 announced full conformity with federal tax laws impacting West Virginia taxable income for individual income and corporate income tax purposes. With the passage and signing of legislation updating the meaning of terms in the West Virginia Personal Income Tax Act and the West Virginia Corporation Net Income Tax Act, the state has fully conformed to all federal tax law changes made in 2020. The conformity includes changes to the IRC enacted in 2020 made by the: 1] Coronavirus Aid, Relief and Economic Security Act; 2] Families First Coronavirus Response Act; 3] Setting…

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