W. Va. Code R. § 110-21G-3
Current through Register Vol. XLI, No. 50, December 13, 2024
W. Va. Code §11-21-3a authorizes an electing pass-through entity ("electing PTE") to make an annual election to pay an elective income tax at the entity level, at a rate equal to the top marginal personal income tax rate on individuals. A nonrefundable income tax credit, subject to a 5-year carryforward, is authorized for owners of the electing PTE for West Virginia income tax paid by the electing PTE. The electing PTE tax is payable in addition to any other taxes imposed on the entity, including sales and use taxes, withholding taxes with respect to employees, property tax, and other local or municipal taxes.
W. Va. Code R. § 110-21G-3