West Virginia Code of State Rules › Agency 110 - Tax › Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT › Series 110-13X - West Virginia Film Industry Investment Act › Section 110-13X-4 - Requirements for Tax Credit; Application for Tax Credit

Current through Register Vol. XLI, No. 28, July 12, 2024
4.1. In order for any company to take a
				credit under W. Va. Code §
									11-13X-1,
et
				seq
., it shall comply with the following requirements:
4.1.1. Each qualified project must incur the
				cumulative amount, specified in the definition of "qualified project" set forth
				in W. Va. §
										11-13X-3, in expenditures in West
				Virginia or with a West Virginia vendor, or any combination of projects not
				previously claimed that would qualify for the credit except for cost, and that
				combined meets or exceeds the cumulative amount in a calendar year.
4.1.2. If the qualified project contains
				production credits, the eligible company shall agree, upon request by the
				Department of Economic Development, to recognize the State of West Virginia
				with the following acknowledgement in the end credit roll: "Filmed in West
				Virginia with assistance of the West Virginia Film Industry Investment
				Act";
4.1.3. Apply to the
				Department of Economic Development on forms and in the manner the Department of
				Economic Development may prescribe.
4.1.3.a. A
				company shall submit to the Department of Economic Development one (1)
				completed West Virginia Film Industry Investment Act eligibility application,
				with original signatures and attachments. The eligible company should submit an
				eligibility application as far in advance as possible prior to the first
				expenditure in West Virginia. However, an eligible company may submit an
				application at any time during production or after production. The Department
				of Economic Development may deny the application if it does not meet all
				eligibility requirements. Qualified costs incurred prior to the approval of an
				application are eligible for the incentive if approved.
4.1.3.b. The application shall include, but
				not be limited to:
4.1.3.b.1. A completed
				West Virginia Film Industry Investment Act eligibility application;
4.1.3.b.2. A copy of the script, or, for
				music videos or commercial still photography, a copy of the storyboards or shot
				lists;
4.1.3.b.3. Proof or status
				of financing or distribution arrangements;
4.1.3.b.4. A copy of the budget top sheet,
				which contains a dedicated column that identifies estimated direct production
				expenditures and post-production expenditures that will be incurred in West
				Virginia;
4.1.3.b.5. A signature
				and verification by the applicant or by a duly authorized representative of the
				applicant;
4.1.3.b.6. The full
				legal name and tax identification number of the applicant;
4.1.3.b.7. The applicant's physical address,
				mailing address and telephone number; and
4.1.3.b.8. A certified copy of the
				applicant's certificate of incorporation, articles of organization, or other
				similar documents that verify the applicant is in good standing and registered
				to do business in the state of West Virginia.
4.1.3.c. Application forms may be obtained
				from the West Virginia Department of Economic Development.
4.1.4. Upon approval of an eligibility
				application, the eligible company shall begin production within one hundred
				twenty (120) days of approval, or shall otherwise forfeit the right to claim
				any tax credit for the approved qualified project. The forfeiture does not
				preclude the eligible company from resubmitting an eligibility application for
				the same project at a future date. Upon written request by the eligible
				company, and prior to the expiration of the one hundred twenty (120) day
				deadline, the Department of Economic Development may extend the deadline at its
				discretion.