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WV Code § 11-13P-10 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13P. Tax Credit for Medical Liability Insurance Premiums|§11-13P-10. Effective Date

This article shall be effective for taxable years beginning after December 31, 2001: Providing, That the assertion of the credit by an eligible taxpayer shall not be allowed prior to July 1, 2002.
WV Code § 11-13P-11 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13P. Tax Credit for Medical Liability Insurance Premiums|§11-13P-11. Termination of Tax Credit

No credit shall be allowed under this article for any taxable year ending after December 31, 2004.
WV Code § 11-13Q-1 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13Q. Economic Opportunity Tax Credit|§11-13Q-1. Short Title

This article may be cited as the "West Virginia Economic Opportunity Tax Credit Act".
WV Code § 11-13Q-2 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13Q. Economic Opportunity Tax Credit|§11-13Q-2. Legislative Finding and Purpose

The Legislature finds that the encouragement of economic opportunity in this state is in the public interest and promotes the general welfare of the people of this state. In order to encourage greater capital investment in businesses in this state and thereby increase economic opportunity in this state, there is hereby enacted the economic opportunity tax credit.
WV Code § 11-13Q-4 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13Q. Economic Opportunity Tax Credit|§11-13Q-4. Amount of Credit Allowed

(a) Credit allowed. -- Eligible taxpayers are allowed a credit against the portion of taxes imposed by this state that are attributable to and the consequence of the taxpayer's qualified investment in a new or expanded business in this state, which results in the creation of new jobs. The amount of this credit is determined and applied as provided in this article.(b) Amount of credit. -- The amount of credit allowable is determined by multiplying the amount of the taxpayer's "qualified investment" (determined under section five or eight, or both) in "property purchased or leased for business expansion" (as defined in section three) by the taxpayer's new jobs percentage (determined under section nine). The product of this calculation establishes the maximum amount of credit allowable under this article due to the qualified investment.(c) Application of credit over ten years. -- The amount of credit allowable must be taken over a ten-year period, at the rate of one tenth of the amount thereof per taxable year, beginning with the taxable year in which the taxpayer places the qualified investment in service or use in this state, unless the taxpayer elected to delay the beginning of the ten-year period until the next succeeding taxable year. This election shall be made in the annual income tax return filed under this chapter for the taxable year in which qualified investment is first placed into service or use by the taxpayer. Once made, the election cannot be revoked. The annual credit allowance is taken in the manner prescribed in section seven of this article.(d) Placed in service or use. -- For purposes of the credit allowed by this section, 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.
WV Code § 11-13Q-6 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13Q. Economic Opportunity Tax Credit|§11-13Q-6. Credit Allowable for Certified Projects

(a) In general. -- A multiple year project certified by the commissioner is eligible for the credit allowable by this article. A project eligible for certification under this section is one where the qualified investment under this article creates at least the required minimum number of new jobs but the qualified investment is placed in service or use over a period of up to three successive tax years: Provided, That the qualified investment is made pursuant to a written business facility development plan of the taxpayer providing for an integrated project for investment at one or more new or expanded business facilities, a copy of which must be attached to the taxpayer's application for project certification and approved by the commissioner, and the qualified investment placed in service or use during the first tax year would not have been made without the expectation of making the qualified investment placed in service or use during the next two succeeding tax years;(b) Application for certification. -- The application for certification of a project under this section shall be filed with and approved by the commissioner prior to any credit being claimed or allowed for the project's qualified investment and new jobs created as a direct result of the qualified investment. This application shall be approved in writing and contain the information as the commissioner may require to determine whether the project should be certified as eligible for credit under this article.(c) Taking of credit. -– The participant or participants claiming the credit for qualified investments in a certified project shall annually file with their income tax returns filed under this chapter:(A) Certification that the participant's qualified investment property continues to be used in the project and if disposed of during the tax year, was not disposed of prior to expiration of its useful life;(B) Certification that the new jobs created by the project's qualified investment continue to exist and are filled by persons who are residents of this state; and(C) Any other information the commissioner requires to determine continuing eligibility to claim the annual credit allowance for the project's qualified investment.
WV Code § 11-13Q-13 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13Q. Economic Opportunity Tax Credit|§11-13Q-13. Transfer of Qualified Investment to Successors

(a) Mere change in form of business. -- Property may not be treated as disposed of under section eleven of this article, by reason of a mere change in the form of conducting the business as long as the property is retained in the successor business in this state, and the transferor business 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 business facility or facilities transferred, and the transferor business may not be required to redetermine the amount of credit allowed in earlier years.(b) Transfer or sale to successor. -- Property is not treated as disposed of under section eleven of this article by reason of any transfer or sale to a successor business which continues to operate the business facility in this state. 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 transferor business is not required to redetermine the amount of credit allowed in earlier years.
WV Code § 11-13Q-14 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13Q. Economic Opportunity Tax Credit|§11-13Q-14. Identification of Investment Credit Property

Every taxpayer who claims credit under this article shall maintain sufficient records to establish the following facts for each item of qualified property:(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 qualified property.
WV Code § 11-13Q-15 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13Q. Economic Opportunity Tax Credit|§11-13Q-15. Failure to Keep Records of Investment Credit Property

A taxpayer who does not keep the records required for identification of investment credit property is subject to the following rules:(1) A taxpayer is treated as having disposed of, during the taxable year, any investment credit property which the taxpayer cannot establish was still on hand, in this state, at the end of that year.(2) If a taxpayer cannot establish when investment 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. In that event, the taxpayer will be treated as having placed the returned property in service in the next most recent year.
WV Code § 11-13Q-16 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13Q. Economic Opportunity Tax Credit|§11-13Q-16. Interpretation and Construction

(a) No inference, implication or presumption of legislative construction or intent may be drawn or made by reason of the location or grouping of any particular section, provision or portion of this article; and no legal effect may be given to any descriptive matter or heading relating to any section, subsection or paragraph of this article.(b) The provisions of this article shall be reasonably construed in order to effectuate the legislative intent recited in section two of this article.
WV Code § 11-13Q-17 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13Q. Economic Opportunity Tax Credit|§11-13Q-17. Severability

(a) If any provision of this article or the application thereof is for any reason adjudged by any court of competent jurisdiction to be invalid, the judgment may not affect, impair or invalidate the remainder of the article, but shall be confined in its operation to the provision thereof directly involved in the controversy in which the judgment shall have been rendered, and the applicability of the provision to other persons or circumstances may not be affected thereby.(b) If any provision of this article or the application thereof is made invalid or inapplicable by reason of the repeal or any other invalidation of any statute therein addressed or referred to, such invalidation or inapplicability may not affect, impair or invalidate the remainder of the article, but shall be confined in its operation to the provision thereof directly involved with, pertaining to, addressing or referring to the statute, and the application of the provision with regard to other statutes or in other instances not affected by any such repealed or invalid statute may not be abrogated or diminished in any way.
WV Code § 11-13Q-18 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13Q. Economic Opportunity Tax Credit|§11-13Q-18. Burden of Proof; Application Required; Failure to Make Timely Application

(a) The burden of proof is on the taxpayer to establish by clear and convincing evidence that the taxpayer is entitled to the benefits allowed by this article.(b) Application for credit required. --(1) Application required. -- Notwithstanding any provision of this article to the contrary, no credit is allowed or may be applied under this article for any qualified investment property placed in service or use until the person asserting a claim for the allowance of credit under this article makes written application to the commissioner for allowance of credit as provided in this subsection. An application for credit shall be filed, in the form prescribed by the Tax Commissioner, no later than the last day for filing the tax returns, determined by including any authorized extension of time for filing the return, required under article twenty-one or twenty-four of this chapter for the taxable year in which the property to which the credit relates is placed in service or use and all information required by the form shall be provided.(2) Failure to make timely application. -- The failure to timely apply for the credit results in the forfeiture of fifty percent of the annual credit allowance otherwise allowable under this article. This penalty applies annually until the application is filed.
WV Code § 11-13Q-19 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13Q. Economic Opportunity Tax Credit|§11-13Q-19. Business Eligible for Credit Entitlements

(a) Notwithstanding any other provision of this article to the contrary, except as provided in section five of this article, no entitlement to the economic opportunity tax credit may result from, and no credit is available to any taxpayer for, investment placed in service or use except for taxpayers engaged in the following industries or business activities:(1) Manufacturing, including, but not limited to, chemical processing and chemical manufacturing, manufacture of wood products and forestry products, manufacture of aluminum, manufacture of paper, paper processing, recyclable paper processing, food processing, commercial hydroponic growing of food crops, manufacture of aircraft or aircraft parts, manufacture of automobiles or automobile parts, and all other manufacturing activities, but not timbering or timber severance or timber hauling, or mineral severance, hauling, processing or preparation, or coal severance, hauling, processing or preparation or synthetic fuel manufacturing taxable under section two-f, article thirteen of this chapter;(2) Information processing, including, but not limited to, telemarketing, information processing, systems engineering, back office operations and software development;(3) The activity of warehousing, including, but not limited to, commercial warehousing and the operation of regional distribution centers by manufacturers, wholesalers or retailers;(4) The activity of goods distribution (exclusive of retail trade);(5) Destination-oriented recreation and tourism; and(6) Research and development, as defined in section three of this article.(b) Notwithstanding the fact that a company, entity or taxpayer is engaged in an industry or business activity enumerated in subsection (a) of this section, the company, entity or taxpayer must qualify for the economic opportunity tax credit by fulfilling the qualified investment, jobs creation and other credit entitlement requirements of this article in order to obtain entitlement to any credit under this article. Failure to fulfill the statutory requirements of this article results in a partial or complete loss of the tax credit.
WV Code § 11-13Q-20 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13Q. Economic Opportunity Tax Credit|§11-13Q-20. Tax Credit Review and Accountability

(a) Beginning on February 1, 2006, and 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 economic opportunity credit during the most recent three-year period for which information is available. The criteria to be evaluated shall include, but not be limited to, for each year of the three-year period:(1) The numbers of taxpayers claiming the credit;(2) The net number of new jobs created by all taxpayers claiming the credit;(3) The cost of the credit;(4) The cost of the credit per new job created; and(5) Comparison of employment trends for an industry and for taxpayers within the industry that claim the credit.(b) Taxpayers claiming the credit shall provide any information the Tax Commissioner may require to prepare the report: Provided, That the information provided is subject to the confidentiality and disclosure provisions of sections five-d and five-s, article ten of this chapter.(c) On or before February 1, 2013, the Department of Commerce, in consultation with the Tax Commissioner, the Department of Transportation and the Department of Environmental Protection shall submit to the Governor, the President of the Senate and the Speaker of the House of Delegates a report of the impact of all the tax credits and other economic incentives provided in the act of the Legislature which amended and reenacted this section during 2011 upon economic development in this state, including but not limited to the creation of jobs in this state, upon the state's infrastructure, including but not limited to the need for construction or maintenance of the roads and highways of the state, upon the natural resources of the state, and upon public and private property interests in the state.
WV Code § 11-13Q-21 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13Q. Economic Opportunity Tax Credit|§11-13Q-21. Effective Date; Election; Notice of Claim or Election Under Transition Rules

(a) The credit allowed by this article is allowed for qualified investment placed in service or use on or after January 1, 2003, subject to the rules contained in this section.(b) Election. -- Notwithstanding the general rule stated in subsection (a), the taxpayer may elect to apply the credit allowed under article thirteen-c of this chapter in lieu of the credit allowed by this article to property purchased or leased for business expansion that is placed in service or use on or after January 1, 2003, if the property qualifies for credit under the transition rules set forth in subdivision (2), subsection (c), section sixteen, article thirteen-c of this chapter.(c) Notice of election required. –- Any person intending to make the election allowed in subsection (b) of this section shall file written notice of his or her intention with the Tax Commissioner on or before December 31, 2002. In the case of a multiparticipant project, this notice may be filed by the managing project participant on behalf of all participants in the project. The notice shall be in a form prescribed by the Tax Commissioner and all information required by the form shall be provided.(d) Failure to file notice. -- If any person fails to timely file the notice required by subsection (c) of this section, that person is precluded from claiming credit under article thirteen-c of this chapter for property placed in service or use after December 31, 2002, and may claim credit under this article to the extent the credit is allowable under this article. For purposes of this section, notice, in proper and complete form, timely filed under section sixteen, article thirteen-c of this chapter fulfills the filing requirement of this section if that filing addresses the same qualified investment for which notice would be required under this section.
WV Code § 11-13R-1 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13R. Strategic Research and Development Tax Credit|§11-13R-1. Short Title

This article may be cited as the "West Virginia Strategic Research and Development Tax Credit Act".
WV Code § 11-13R-2 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13R. Strategic Research and Development Tax Credit|§11-13R-2. Legislative Finding and Purpose

The Legislature finds that the encouragement of research and development in this state is in the public interest and promotes economic growth and development and the general welfare of the people of this state. In order to encourage research and development in this state and thereby increase employment and economic development, there is hereby provided a strategic research and development tax credit.
WV Code § 11-13R-5 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13R. Strategic Research and Development Tax Credit|§11-13R-5. Amount of Credit Allowed

The allowable credit is the greater of:(1) Three percent of the annual combined qualified research and development expenditure; or(2) Ten percent of the excess of the annual combined qualified research and development expenditure over the base amount.
WV Code § 11-13R-7 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13R. Strategic Research and Development Tax Credit|§11-13R-7. 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 four of this article; or(2) Ceases to be used in a qualified research and development activity of the taxpayer in this state prior to the end of its useful life, as determined under section four 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 such property allowed under section four of this article, to correspond with the percentage of cost allowable for the period of time that the property was actually used in the qualified research and development activity of the taxpayer. The taxpayer shall 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 such earlier years, plus interest and any applicable penalties.
WV Code § 11-13R-8 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13R. Strategic Research and Development Tax Credit|§11-13R-8. Transfer of Qualified Research and Development Investment to Successors

(a) Mere change in form of business. -- Property may not be treated as disposed of under section seven 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 qualified research and development, 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 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 may not be treated as disposed of under section seven of this article by reason of any transfer or sale to a successor business which continues to use the property in qualified research and development. 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) may not be required to redetermine the amount of credit allowed in earlier years.
WV Code § 11-13R-9 (2021)
2021 West Virginia Code|Chapter 11. Taxation|Article 13R. Strategic Research and Development Tax Credit|§11-13R-9. 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 qualified research and development property:(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 qualified research and development property.(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.