West Virginia Extends Qualified Opportunity Zone Businesses Income Tax Modification

The West Virginia Governor signed a law that includes: 1) extending the corporate income tax subtraction modification for qualified opportunity zone businesses through 2032; and 2) providing the modification is applicable retrospectively for taxable years beginning on or after Jan. 1, 2024. The law takes effect on June 10. [H.B. 4784, enacted 04/01/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.