W. Va. Code R. § 110-13GG-10

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

Section 110-13GG-10 - Identification of investment credit property

10.1. Every taxpayer who claims credit under W. Va. Code § 11-13GG-1, et seq., shall maintain sufficient records to establish the following facts for each item of qualified property:

10.1.1. Its identity;

10.1.2. Its actual or reasonably determined cost;

10.1.3. Its straight-line depreciation life;

10.1.4. The month and taxable year in which it was placed in service;

10.1.5. The amount of credit taken; and

10.1.6. The date it was disposed of or otherwise ceased to be use as qualified property in the downstream natural gas manufacturing facility of the taxpayer.

W. Va. Code R. § 110-13GG-10