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WV Code § 11-13R-10 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13R. Strategic Research and Development Tax Credit|§11-13R-10. Failure to Keep Records of Qualified Research and Development Credit Property

A taxpayer who does not keep the records required for identification of qualified research and development credit property, is subject to the following rules:(1) A taxpayer is treated as having disposed of, during the taxable year, any qualified research and development credit property which the taxpayer cannot establish was still on hand and used in qualified research and development activity at the end of that year.(2) If a taxpayer cannot establish when qualified research and development credit property reported for purposes of claiming this credit returned during the taxable year was placed in service, the taxpayer is treated as having placed it in service in the most recent prior year in which similar property was placed in service, unless the taxpayer can establish that the property placed in service in the most recent year is still on hand and used in qualified research and development activity at the end of that year. In that event, the taxpayer will be treated as having placed the returned property in service in the next most recent year.
WV Code § 11-13R-11 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13R. Strategic Research and Development Tax Credit|§11-13R-11. Tax Credit Review and Accountability

(a) Beginning on February 1, 2006, and on February 1 every third year thereafter, the commissioner shall submit to the Governor, the President of the Senate and the Speaker of the House of Delegates a tax credit review and accountability report evaluating the cost effectiveness of the credit allowed under this article during the most recent three-year period for which information is available. The criteria to be evaluated includes, but is not limited to, for each year of the three-year period:(1) The numbers of taxpayers claiming the credit;(2) The net number, type and duration of new jobs created by all taxpayers claiming the credit and wages and benefits paid;(3) The cost of the credit;(4) The cost of the credit per new job created;(5) Comparison of employment trends for the industry and for taxpayers within the industry that claim the credit; and(6) The amount of excess credit refunded to small qualified research and development companies pursuant to subsection (i), section six of this article.(b) Taxpayers claiming the credit shall provide information as the Tax Commissioner requires to prepare the report: Provided, That the information shall be subject to the confidentiality and disclosure provisions of sections five-d and five-s, article ten of this chapter.
WV Code § 11-13R-12 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13R. Strategic Research and Development Tax Credit|§11-13R-12. Effective Date

The provisions of this article become effective on January 1, 2003, and apply only to qualified investment made on or after that date, except that the amendments to this article enacted in two thousand four shall become effective for taxable years beginning on or after July 1, 2004, and apply only to unused credit attributable to qualified investment made on or after that date and prior to January 1, 2008.
WV Code § 11-13R-13 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13R. Strategic Research and Development Tax Credit|§11-13R-13. Expiration of Tax Credit

The Strategic Research and Development Tax Credit Act terminates on January 1, 2014, and no credit is available to any taxpayer for any qualified investment or expenditure made on or after that date. Taxpayers which have gained entitlement to the credit pursuant to qualified investment or expenditure prior to January 1, 2014, retain that entitlement and may apply the credit pursuant to the requirements and limitations of this article.
WV Code § 11-13S-1 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13S. Manufacturing Investment Tax Credit|§11-13S-1. Short Title

This article may be cited as the "West Virginia Manufacturing Investment Tax Credit Act".
WV Code § 11-13S-2 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13S. Manufacturing Investment Tax Credit|§11-13S-2. Legislative Findings and Purpose

The Legislature finds that the encouragement of the location of new industry in this state, and the expansion, growth and revitalization of existing industrial facilities in this state is in the public interest and promotes the general welfare of the people of this state.
WV Code § 11-13S-5 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13S. Manufacturing Investment Tax Credit|§11-13S-5. Qualified Manufacturing Investment

(a) General. -- The qualified manufacturing investment is the applicable percentage of the cost of property purchased for manufacturing investment, which is placed in service or use in this state, by the eligible taxpayer during the taxable year.(b) Applicable percentage. -- For the purposes of subsection (a) of this section, the applicable percentage for any property is determined under the following table:If useful life is:The applicable percentage is:4 years or more but less than 6 years 33 1/36 years or more but less than 8 years 66 2/38 years or more 100The useful life of any property for purposes of this section is determined pursuant to the methods as the Tax Commissioner may require as of the date the property is first placed in service or use in this state by the taxpayer, determined as the Tax Commissioner may require.(c) Placed in service or use. -- For purposes of the credit allowed by this article, property is considered placed in service or use in the earlier of the following taxable years:(1) The taxable year in which, under the taxpayer's depreciation practice, the period for depreciation with respect to the property begins; or(2) The taxable year in which the property is placed in a condition or state of readiness and availability for a specifically assigned function.(d) Cost. -- For purposes of this section, the cost of property purchased for manufacturing investment, is determined under the following rules:(1) Trade-ins. -- Cost will not include the value of property given in trade or exchange for property purchased for manufacturing investment;(2) Damaged, destroyed or stolen property. -- If property is damaged or destroyed by fire, flood, storm or other casualty, or is stolen, then the cost of replacement property will not include any insurance proceeds received in compensation for the loss;(3) Rental property. -– The cost of property acquired by lease for a term of ten years or longer is one hundred percent of the rent reserved for the primary term of the lease, not to exceed twenty years;(4) Property purchased for multiple use. -- The cost of property purchased for multiple business use including use as a component part of a new or expanded or revitalized industrial facility, together with some other business or activity not eligible for credit under this article, is apportioned between the businesses and occupations. The amount apportioned to the new or expanded or revitalized industrial facility is considered as a qualified investment, subject to the conditions and limitations of this section; and(5) Self-constructed property. -- In the case of self-constructed property, the cost thereof shall be the amount properly charged to the capital account for purposes of depreciation.
WV Code § 11-13S-6 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13S. Manufacturing Investment Tax Credit|§11-13S-6. Forfeiture of Unused Tax Credits; Redetermination of Credit Allowed

(a) Disposition of property or cessation of use. -- If during any taxable year, property with respect to which a tax credit has been allowed under this article:(1) Is disposed of prior to the end of its useful life, as determined under section five of this article; or(2) Ceases to be used in an industrial facility of the taxpayer in this state prior to the end of its useful life, as determined under section five of this article, then the unused portion of the credit allowed for such property is forfeited for the taxable year and all ensuing years. Except when the property is damaged or destroyed by fire, flood, storm or other casualty, or is stolen, the taxpayer shall redetermine the amount of credit allowed in all earlier years by reducing the applicable percentage of cost of the property allowed under section five of this article, to correspond with the percentage of cost allowable for the period of time that the property was actually used in manufacturing activity as part of an industrial facility of the taxpayer. The taxpayer must then file a reconciliation statement with its annual return filed under article twenty-three of this chapter, for the year in which the forfeiture occurs and pay any additional taxes owed due to reduction of the amount of credit allowable for the earlier years, plus interest and any applicable penalties.
WV Code § 11-13S-7 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13S. Manufacturing Investment Tax Credit|§11-13S-7. Transfer of Property Purchased for Manufacturing Investment to Successors

(a) Mere change in form of business. -- Property may not be treated as disposed of under section six of this article, by reason of a mere change in the form of conducting the business as long as the property is retained in a business in this state for use in the activity of manufacturing in an industrial facility in West Virginia, and the taxpayer retains a controlling interest in the successor business. In this event, the successor business is allowed to claim the amount of credit still available with respect to the property or industrial facility transferred, and the taxpayer (transferor) may not be required to redetermine the amount of credit allowed in earlier years.(b) Transfer or sale to successor. -- Property will not be treated as disposed of under section six of this article by reason of any transfer or sale to a successor business which continues to use the property in manufacturing in an industrial facility in West Virginia. Upon transfer or sale, the successor shall acquire the amount of credit that remains available under this article for each subsequent taxable year, and the taxpayer (transferor) shall not be required to redetermine the amount of credit allowed in earlier years.
WV Code § 11-13S-8 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13S. Manufacturing Investment Tax Credit|§11-13S-8. Identification of Investment Credit Property

(a) Every taxpayer who claims credit under this article shall maintain sufficient records to establish the following facts for each item of property purchased for manufacturing investment: (1) Its identity; (2) Its actual or reasonably determined cost; (3) Its straight-line depreciation life; (4) The month and taxable year in which it was placed in service; (5) The amount of credit taken; and (6) The date it was disposed of or otherwise ceased to be property purchased for manufacturing investment.(b) Every taxpayer who claims credit under this article shall also maintain sufficient records to establish the number and types of new jobs, if any, created, the wages and benefits paid to employees filling the new jobs and the duration of each job.
WV Code § 11-13S-9 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13S. Manufacturing Investment Tax Credit|§11-13S-9. Failure to Keep Records of Property Purchased for Manufacturing Investment

A taxpayer who does not keep the records required for property purchased for manufacturing investment, is subject to the following rules:(1) A taxpayer is treated as having disposed of, during the taxable year, any property purchased for manufacturing investment which the taxpayer cannot establish was still on hand and used in manufacturing activity in this state at the end of that year; and(2) If a taxpayer cannot establish when property purchased for manufacturing investment reported for purposes of claiming this credit returned during the taxable year was placed in service, the taxpayer is treated as having placed it in service in the most recent prior year in which similar property was placed in service, unless the taxpayer can establish that the property placed in service in the most recent year is still on hand and used in manufacturing activity at the end of that year. In that event, the taxpayer will be treated as having placed the returned property in service in the next most recent year.
WV Code § 11-13S-10 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13S. Manufacturing Investment Tax Credit|§11-13S-10. Tax Credit Review and Accountability

(a) Beginning on February 1, 2006, and on February 1 every third year thereafter, the commissioner shall submit to the Governor, the President of the Senate and the Speaker of the House of Delegates a tax credit review and accountability report evaluating the cost effectiveness of the credit allowed under this article during the most recent three-year period for which information is available. The criteria to be evaluated includes, but is not limited to, for each year of the three-year period:(1) The numbers of taxpayers claiming the credit;(2) The net number, type and duration of new jobs created by all taxpayers claiming the credit and the wages and benefits paid;(3) The cost of the credit;(4) The cost of the credit per new job created; and(5) Comparison of employment trends for the industry and for taxpayers within the industry that claim the credit.(b) Taxpayers claiming the credit shall provide the information as the Tax Commissioner may require to prepare the report: Provided, That the information is subject to the confidentiality and disclosure provisions of sections five-d and five-s, article ten of this chapter.
WV Code § 11-13T-1 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13T. Tax Credit for Combined Claims Made Medical Malpractice Premiums and Medical Malpractice Liability Tail Insurance Premiums Paid|§11-13T-1. Legislative Finding and Purpose

The Legislature finds that the retention of physicians practicing in this state is in the public interest and promotes the general welfare of the people of this state. The Legislature further finds that the promotion of stable and affordable medical malpractice liability insurance premium rates and medical malpractice liability tail insurance premium rates will induce retention of physicians practicing in this state.In order to effectively decrease the cost of medical malpractice liability insurance premiums and medical malpractice liability tail insurance premiums paid in this state on physicians' services, there is hereby provided a tax credit for certain medical malpractice liability insurance premiums and medical malpractice liability tail insurance premiums paid.
WV Code § 11-13T-3 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13T. Tax Credit for Combined Claims Made Medical Malpractice Premiums and Medical Malpractice Liability Tail Insurance Premiums Paid|§11-13T-3. Eligibility for Tax Credits; Creation of the Credit

There shall be allowed to every eligible taxpayer a credit against the tax payable under section sixteen, article twenty-seven of this chapter. The amount of this credit shall be determined and applied as provided in this article.
WV Code § 11-13T-4 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13T. Tax Credit for Combined Claims Made Medical Malpractice Premiums and Medical Malpractice Liability Tail Insurance Premiums Paid|§11-13T-4. Amount of Credit Allowed

(a) Allowance. –-(1) The amount of annual credit allowable under this article to an eligible taxpayer shall be: (A) Ten percent of the combined annual medical liability insurance premiums paid in excess of $30,000, or (B) Twenty percent of combined annual medical liability insurance premiums paid in excess of $70,000. (2) This credit may be taken for combined annual medical liability insurance premiums paid during any taxable year beginning on or after January 1, 2002, and ending on or before December 31, 2003.(b) Exclusions. -– No credit shall be allowed for any combined annual medical liability insurance premiums, or part or component thereof, paid by or on behalf of an eligible taxpayer employed by this state, its agencies or subdivisions. No credit shall be allowed for any combined annual medical liability insurance premiums, or part or component thereof, paid by or on behalf of an eligible taxpayer or an eligible taxpayer organization or a payor pursuant to insurance coverage provided under article twelve, chapter twenty-nine of this code. No credit shall be allowed for any combined annual medical liability insurance premiums, or part or component thereof, paid before January 1, 2002, or paid after December 31, 2003.
WV Code § 11-13T-5 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13T. Tax Credit for Combined Claims Made Medical Malpractice Premiums and Medical Malpractice Liability Tail Insurance Premiums Paid|§11-13T-5. Unused Credit; Carryforward; Credit Forfeiture

If any credit remains after application of the credit against tax for any taxable year under this article, the amount thereof shall be carried forward to each ensuing tax year until used or until July 1, 2010, whichever occurs first. If any unused credit remains after July 1, 2010, the amount thereof is forfeited. No carryback to a prior taxable year is allowed for the amount of any unused portion of this credit.
WV Code § 11-13T-6 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13T. Tax Credit for Combined Claims Made Medical Malpractice Premiums and Medical Malpractice Liability Tail Insurance Premiums Paid|§11-13T-6. Application of Credit Against Health Care Provider Tax; Schedules; Estimated Taxes

(a) The credit allowed under this article shall be applied against the tax payable under section sixteen, article twenty-seven of this chapter, for the taxable year in which the combined annual medical liability insurance premiums are paid. To assert credit against the tax payable under section sixteen, article twenty-seven of this chapter, the eligible taxpayer shall prepare and file with the annual tax return filed under article twenty-seven of this chapter, a schedule showing the combined annual medical liability insurance premiums paid for the taxable year, the amount of credit allowed under this article, the tax against which the credit is being applied and other information that the Tax Commissioner may require. This annual schedule shall set forth the information and be in the form prescribed by the Tax Commissioner.(b) An eligible taxpayer may consider the amount of credit allowed under this article when determining the eligible taxpayer's liability for periodic payments of estimated tax for the taxable year for the tax payable under section sixteen, article twenty-seven of this chapter, in accordance with the procedures and requirements prescribed by the Tax Commissioner. The annual total tax liability and total tax credit allowed under this article are subject to adjustment and reconciliation pursuant to the filing of the annual schedule required by this section.
WV Code § 11-13T-8 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13T. Tax Credit for Combined Claims Made Medical Malpractice Premiums and Medical Malpractice Liability Tail Insurance Premiums Paid|§11-13T-8. Legislative Rules

The Tax Commissioner shall propose for promulgation rules pursuant to the provisions of article three, chapter twenty-nine-a of this code, as may be necessary to carry out the purposes of this article.
WV Code § 11-13T-9 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13T. Tax Credit for Combined Claims Made Medical Malpractice Premiums and Medical Malpractice Liability Tail Insurance Premiums Paid|§11-13T-9. Burden of Proof

The burden of proof is on the person claiming the credit allowed by this article to establish by clear and convincing evidence that the person is entitled to the amount of credit asserted for the taxable year.
WV Code § 11-13U-1 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13U. High-Growth Business Investment Tax Credit|§11-13U-1. Short Title

This article may be cited as the "High-Growth Business Investment Tax Credit."
WV Code § 11-13U-2 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13U. High-Growth Business Investment Tax Credit|§11-13U-2. Legislative Finding and Purpose

The Legislature finds the encouragement of investment in potentially high-growth research and development businesses in this state is in the public interest and promotes economic growth and development for the people of this state. In order to encourage investment in start-up, growth-oriented, research and development businesses in this state and thereby increase employment and economic development, there is hereby provided a high-growth business investment tax credit.
WV Code § 11-13U-3 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13U. High-Growth Business Investment Tax Credit|§11-13U-3. Definitions

As used in this article, the following terms have the meanings ascribed to them in this section, unless the context in which the term is used clearly requires another meaning or a specific different definition is provided:(1) "Alter ego" means a qualified research and development company where one or more of the following criteria are satisfied in relation to the eligible taxpayer:(A) The ownership of the business is "substantially related" to the ownership of the eligible taxpayer. "Substantially related" means a five percent or more common ownership interest; or(B) The board of directors of the qualified research and development company is controlled by the eligible taxpayer: Provided, That an eligible taxpayer is deemed to have control of the board of directors of a qualified research and development company if it controls a simple majority of the board of directors.(2) "Corporate headquarters" means the place at which the corporation has its commercial domicile and from which the business of the corporation is primarily conducted.(3) "Eligible taxpayer" means a person that has received certification from the economic development authority that a portion of the annual available high growth business investment credit has been allocated to it, that is subject to the tax imposed by either article twenty-three, article twenty-four or article twenty-one of this chapter, and that has made a qualified investment in a qualified research and development credit company. (4) "Person" includes any natural person, corporation, limited liability company, or partnership.(5) "Qualified investment" means an equity financing of a West Virginia qualified strategic research and development company. The investment must be in cash or cash equivalents and may not be an exchange of in-kind property. (6) "Qualified research and development company" for purposes of the high growth business investment tax credit means an entity that has been certified by the State Tax Commissioner as eligible for the West Virginia research and development tax credit set forth in article thirteen-r, chapter eleven of this code, that has annual gross receipts of less than $20 million and has annual payroll of less then $2,500,000. (7) "Tax credit" means the high-growth business development tax credit authorized by this article.(8) "Taxable year" means the tax year of the eligible taxpayer.