W. Va. Code R. § 110-13KK-8

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

Section 110-13KK-8 - Identification of investment credit property

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

8.1.1. The identity of the qualified property;

8.1.2. The actual or reasonably determined cost of the qualified property;

8.1.3. The straight-line depreciation life of the qualified property;

8.1.4. The month and taxable year in which the qualified property was placed in service;

8.1.5. The amount of credit taken with respect to the qualified property;

8.1.6. The date the qualified property was disposed of or otherwise ceased to be used as qualified property in the small arms and ammunition manufacturing facility of the taxpayer; and

8.1.7. The amounts and dates of federal excise tax paid.

W. Va. Code R. § 110-13KK-8