WV HB2025

Amends §11-24-3 of the West Virginia Code to align Corporation Net Income Tax terms with federal income tax definitions under the Internal Revenue Code of 1986

Incorporates all federal tax law amendments made between December 31, 2023 and January 1, 2025 into West Virginia's corporate income tax calculations

Prohibits any federal tax law changes made on or after January 1, 2025 from affecting West Virginia corporate income tax determinations

Makes the 2025 amendments retroactive to the extent allowable under federal income tax law while preserving prior law for taxable years that began before January 1, 2025

Takes effect immediately upon passage (passed February 17, 2025)