W. Va. Code R. § 110-13M-8

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

Section 110-13M-8 - General Procedure and Administration

8.1. To claim this credit, a taxpayer shall comply with the provisions of W. Va. Code '11-13M-1 et seq. and this rule, and shall timely provide complete and accurate forms, schedules and other information required by the Tax Commissioner.

8.1.1. The taxpayer shall file required forms, schedules and information requested by the Tax Commissioner by the due date of the return for the taxes against which the credit is to be applied, with regard to any extension of time for filing but without regard to any extension of time for payment.

8.2 When applying for this credit, a taxpayer is also subject to the provisions of W. Va. Code '11-21-1 et seq. (Personal Income Tax), W. Va. Code '11-23-1 et seq. (Business Franchise Tax) and W. Va. Code '11-24-1 et seq. (Corporation Net Income Tax) and rules issued pursuant to those statutes, as well as to the provisions of W. Va. Code '11-10-1 et seq. (Procedure and Administration) which provide for administration of those taxes.

8.3. A taxpayer which does not maintain the records required to verify the validity of its eligibility for the credit and the accuracy of the amount of credit claimed may be denied credit or be subject to recapture to the extent the eligibility and accuracy are not substantiated by its records.

8.4. A taxpayer filing on a short tax year basis for its first tax year shall calculate its new jobs filled during the tax year by full-time employees by calculating the average number of new jobs held by full-time employees for each month of the short tax year by averaging the beginning and ending monthly employment of full-time employees holding new jobs, then totaling the monthly averages and dividing that total by the number of months in the short tax year.

W. Va. Code R. § 110-13M-8