West Virginia Income Tax Overview
West Virginia residents whose income did not exceed their exemption and senior citizen modification combined are not required to file a West Virginia income tax return.
WV income tax decrease: House Bill 2526 slashed West Virginia income tax rates by an average of 21.25% in 2023. Although the new individual income tax rates are retroactive to January 1, 2023, you do not need to adjust prior paychecks. Instead, employees will receive the difference when they file their 2023 annual income tax return in 2024.
You must file a resident return and report all of your income in the same manner as any other resident individual unless you did not maintain a physical presence in West Virginia for more than 30 days during the taxable year.
The West Virginia income tax has five tax brackets, with a maximum marginal income tax of 6.50% as of 2023. You can use our free West Virginia income tax calculator to get a good estimate of what your tax liability will be come April. Please remember that the income tax code is very complicated, and while we can provide a good estimate of your Federal and West Virginia income taxes, your actual tax liability may be different.
Tax Filing and Resources
If you need assistance preparing your West Virginia state taxes, you can speak with a tax professional or visit the West Virginia Department of Revenue website for additional resources.
Tax refund delays in West Virginia can be attributed to various reasons, including errors in tax filing and enhanced security protocols. Understanding these reasons is essential for taxpayers to set realistic expectations regarding their refund timelines. To mitigate delays, taxpayers are advised to file accurately and promptly.
West Virginia LLC Tax and Requirements
This article will get you started with the basics of West Virginia LLC tax filing requirements, such as federal income tax, West Virginia income tax, and employer taxes. On this page, we discuss the federal and state tax requirements for your Limited Liability Company. Each West Virginia LLC has a unique tax situation. We recommend hiring an accountant to ensure your LLC meets all of its tax obligations.