Updating corporate net income tax definitions

Summary

The bill makes every term used in West Virginia’s corporate net income tax law mean the same as it does in federal tax law, unless the state law needs a different meaning. It also defines how references to the Internal Revenue Code of 1986 and the older 1954 code are to be interpreted. The changes apply retroactively where federal law allows, but do not incorporate any federal tax changes made after Jan. 1, 2026.

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