CHARLESTON, WV– (WOWK) – West Virginians may see a little more money in their pockets this year because the statewide personal income taxes are being reduced an extra 2% as of Wednesday, January 1.
How much extra money individuals will receive will vary from person to person due to factors such as their pay, tax brackets and more.
“According to our interpretation, the provisions of this bill made two substantive changes. In addition, to the automatic 4% triggered tax rate reduction, the provisions of this bill further reduce personal income tax rates by an additional 2% effective January 1, 2025, with all income tax rates decreasing and the top marginal tax rate decreasing from the originally set 4.92% to 4.82% in Tax Year 2025,” the West Virginia Tax and Revenue Department shared…