W. Va. Code R. § 110-13B-10a

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 110-13B-10a - Tax Credit For Business Investment And Jobs Expansion; Credit For Eligible Research And Development Projects; Credit For Reducing Telephone Rates For Certain Low- Income Residential Customers; Rules

10a.1. There shall be allowed as a credit against the telecommunications tax imposed by Article 13B, Chapter 11 for the taxable year, the amount determined under Articles 13C, 13D, and 13G of Chapter 11 of the West Virginia Code, relating respectively to:

10a.1.1.Tax credit for business investment and jobs expansion;

10a.1.2.Tax credit for eligible research and development projects;

10a.1.3.Tax credit for reducing telephone utility rates for certain low income residential customers.

10a.1.4.The tax imposed by Article 13B is subject to the credit set forth at Section 9b, Article 15, Chapter 11 (Consumers Sales and Service Tax) and the credit set forth at Section 3b, Article 15-A, Chapter 11 (Use Tax) of the West Virginia Code.

10a.2. These regulations shall prescribe the manner whereby the tax credits set forth in Sections '11-13C-1 et seq., '11-13D-1 et seq. and '11-13G-1 et seq. of the West Virginia Code shall be taken against the tax set forth in Section '11-13B-1 et seq. of the West Virginia Code.

10a.3. Order in which credits are taken. The credits set forth in this section shall be taken in the following order:

10a.3.1.First, the credit set forth in Section 10a.1.3. of these regulations, if any.

10a.3.2.Second, the credit set forth in Section 10a.1.2. of these regulations, if any.

10a.3.3.Third, the credit set forth in section 10a.1.1. of these regulations, if any.

10a.3.4.Fourth, the credit set forth in section 10a.1.4. of these regulations.

W. Va. Code R. § 110-13B-10a