Exempting social security benefits from personal income tax

HB 2792 would amend West Virginia's personal income tax code to exempt Social Security benefits from state taxation. Specifically, it adds a provision (section §11-21-12(c)(7)) stating that Social Security benefits received under Title 42 U.S.C., Chapter 7, will no longer be included in taxable income for West Virginia residents. This change directly affects West Virginia residents who receive Social Security payments, as it reduces their taxable income for state tax purposes. The exemption applies to tax years beginning after December 31, 2024, and modifies the calculation of "West Virginia adjusted gross income" by removing Social Security benefits from the taxable base.