To modify the calculation of the taxable wage base.

HB 4401 would lower the taxable wage base for unemployment insurance from $9,500 to $8,500 per employee per year. This means employers in West Virginia would pay unemployment taxes only on the first $8,500 of wages paid to each employee annually, rather than the current $9,500 threshold. The bill directly affects all West Virginia employers contributing to the state's unemployment insurance fund. It modifies the calculation method under West Virginia law for determining taxable wages, without changing unemployment benefit amounts or eligibility.