Daily Tax Report: State
March 1, 2021, 5:00 a.m.
The Department of Taxes for the state of West Virginia announced on March 1 that it would be fully compliant with federal tax laws that affect West Virginia taxable income for individual income and corporate income tax purposes. In passing and signing laws to update the meanings of terms in the West Virginia Personal Income Tax Act and the West Virginia Corporation Net Income Tax Act, the state has fully complied with all changes to federal tax law made in 2020. Compliance includes changes to the 2020 IRC enacted by: 1) Coronavirus Aid, Relief and Economic Security Act; 2) Family First Coronavirus Response Act; 3) Setting …
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