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Committee substitute for SB 610 approved; Dept. of Revenue estimates $70–$100M revenue impact
Summary
The Workforce Committee adopted a committee substitute for Senate Bill 610 to exempt overtime pay from West Virginia’s personal income tax and voted to report the measure to the full Senate with referral to the Finance Committee.
The Workforce Committee adopted a committee substitute for Senate Bill 610, a proposal to exempt overtime pay from West Virginia’s personal income tax, and agreed to report the substitute to the full Senate with a referral to the Finance Committee.
Counsel told the committee the substitute creates a new code section, listed as 11‑21‑12o, and defines overtime compensation by cross‑reference to the applicable code section. Martin Mucco of the Department of Revenue briefed members on the fiscal note, describing a state revenue loss estimate in the range of…
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