Source: http://wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=hb2529%20intr.htm&yr=2019&sesstype=RS&i=2529
Timestamp: 2019-12-13 05:17:59
Document Index: 465063161

Matched Legal Cases: ['§11', '§33', '§33', '§33', '§33', '§11']

House Bill 2529
By Delegates Swartzmiller, Diserio, Lavender-Bowe, McGeehan, Miley, Barrett, Miller, Azinger, Lovejoy, Storch and Caputo
to the Committee on Senior, Children, and Family Issues then Finance.]
A BILL to amend and reenact §11-21-12 of the Code of West Virginia, 1931, as amended, relating to personal income tax; and exempting social security benefits from state personal income tax.
(7) Amounts withdrawn from a medical savings account established by or for an individual under §33-15-20 of this code or §33-16-15 of said code that are used for a purpose other than payment of medical expenses, as defined in those sections.
(10) Contributions from any source to a medical savings account established by or for the individual pursuant to §33-15-20 of this code or §33-16-15 of said code, plus interest earned on the account, to the extent includable in federal adjusted gross income for federal tax purposes: Provided, That the amount subtracted pursuant to this subdivision for any one taxable year may not exceed $2,000 plus interest earned on the account. For married individuals filing a joint return, the maximum deduction is computed separately for each individual;
(i) The term “everance wages” means any monetary compensation paid by the employer in the taxable year as a result of permanent termination from employment in excess of regular annual wages or regular annual salary;
(iv) The term “corporation” means any corporation, joint-stock company or association and any business conducted by a trustee or trustees wherein interest or ownership is evidenced by a certificate of interest or ownership or similar written instrument. and
(13) For taxable years beginning after December 31, 2019, any social security benefits received pursuant to Title 42 U.S.C. Chapter 7.
(d) Modification for West Virginia fiduciary adjustment. -- There shall be added to or subtracted from federal adjusted gross income, as the case may be, the taxpayer's share, as beneficiary of an estate or trust, of the West Virginia fiduciary adjustment determined under §11-21-19 of this code.