Relating to the creation of the Portable Benefit Account Act

Summary

The bill creates a new system that lets hiring parties or contractors themselves fund portable benefit accounts covering health, disability, life, retirement and other insurance for West Virginia independent contractors. Contributions are deductible for state income and corporate taxes, and the amounts received are excluded from taxable income when not already deducted federally. It also bars the use of these accounts to reclassify contractors as employees for most employment‑law purposes.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share