West Virginia Code of State Rules › Agency 61 - Agriculture › Title 61 - LEGISLATIVE RULE DEPARTMENT OF AGRICULTURE › Series 61-36 - Farm to Food Bank Tax Credit › Section 61-36-5 - Application for Tax Credit

Current through Register Vol. XLI, No. 28, July 12, 2024
5.1.
				Farming taxpayers shall make application to the Department for the tax credit
				as contemplated by W. Va. Code §
									11-13DD-4(b), by
				submitting the properly completely receipt form along with any supporting
				documentation, if applicable.
5.2.
				The Department of Agriculture shall review the receipt form to ensure that it
				has been completed in full and signed by the farming taxpayer and a
				representative of the food program that accepted the donation.
5.2.a. The Department of Agriculture shall
				check to ensure that the food program listed on the form was a surplus food
				collection and distribution program operated and established to collect donated
				food for redistribution to persons in need and is recognized as exempt from
				federal taxation under section 501(c)(3) of the Internal Revenue Code at the
				time of the donation.
5.2.b. The
				Department of Agriculture shall review the estimated value of the edible
				agricultural products listed by the farming taxpayer on the receipt form.
5.2.b.1. If the taxpaying farmer includes a
				copy of an invoice or other statement identifying the price received by the
				taxpaying farmer for edible agricultural products of comparable grade or
				quality for a previous sale, then that documentation shall be reviewed for
				accuracy and completeness. The Department of Agriculture reserves the right to
				request additional documentation as necessary to support the valuation of the
				edible agricultural product.
5.2.b.2. If the taxpaying farmer does not
				include an invoice or other statement identifying the price received by the
				taxpaying farmer for edible agricultural products of comparable grade or
				quality for a previous sale, then the Department shall, on the date of the
				donation, determine if the value listed for the donated edible agricultural
				products is reasonable based on the fair market value as determined by average
				weekly regional produce auction prices or United States Department of
				Agriculture prices for meat, fish and dairy products. This value shall be
				compared to the value claimed on the receipt form to ensure the value claimed
				is not higher. If the price of the exact donated product cannot be determined
				from the average weekly regional produce auction prices or the United States
				Department of Agriculture prices for meat, fish, and dairy products, then WVDA
				will compare it to the price of the nearest like commodity. Additional
				information may be requested from the taxpayer regarding the donated commodity
				in making this determination.
5.2.b.3. In the event the value of the
				product claimed on the receipt form does not agree, the Department of
				Agriculture shall substitute the fair market value, as determined by average
				weekly regional produce auction prices or United States Department of
				Agriculture prices for meat, fish and dairy products, for the edible
				agricultural products on the receipt form.
5.2.c. The Department of Agriculture shall
				allocate the tax credits to farming taxpayers in the order the properly
				completed receipt forms are received. If an incomplete or inaccurate receipt
				form is submitted to the Department of Agriculture, it shall be returned to the
				farming taxpayer for correction and will not be considered for tax credits
				until the date the receipt form is corrected and resubmitted.