Relating to nonresident income tax for natural resources royalty payments received from lessees

This bill requires companies (lessees) that pay mineral royalty payments (e.g., for coal, oil, or gas) to nonresident owners (lessors) to withhold West Virginia income tax from those payments. Lessees must withhold tax on annual payments exceeding $1,000, remit the withheld amount to the state, and provide annual statements to the nonresident lessors. Nonresident owners will be credited for the withheld tax against their state tax liability and can receive refunds for overpayments. The law aims to ensure nonresident mineral rights owners pay taxes on income earned from West Virginia resources, closing a revenue gap identified by the legislature.