W. Va. Code R. § 110-21H-2

Current through Register Vol. XLI, No. 49, December 6, 2024

Section 110-21H-2 - Definitions

2.1. General Rule. -- Unless a specific definition is provided in subsection 2.2 of this section, or the context in which the term is used clearly requires a different meaning, the terms used in this rule have the definitions provided under W. Va. Code §§11-10-1et seq., 11-21-1 et seq., and 11-24-1 et seq.

2.2. Terms defined.

2.2.1. "Ad valorem property tax" means and is limited to the West Virginia ad valorem property tax.

2.2.2. "Business" means any activity taxable under W. Va. Code §11-12-1et seq., which is engaged in by any person in this State.

2.2.3. "Disabled veteran taxpayer" means a person honorably discharged from any branch of the armed services of the United States and who, according to the United States Department of Veteran Affairs, is considered at least 90 percent totally and permanently disabled due solely to service-connected disabilities.

2.2.4. "Eligible motor vehicle" means a motor vehicle on which the ad valorem property tax has been paid for the taxable year by the eligible taxpayer, and which is a motor vehicle as defined in this rule.

2.2.5. "Flow-through entity," "conduit entity," or "pass-through entity" means an S corporation, partnership, limited partnership, limited liability partnership, or limited liability company. The term "flow-through entity," "conduit entity," or "pass-through entity" includes a publicly traded partnership as that term is defined in section 7704 of the Internal Revenue Code that has equity securities registered with the Securities and Exchange Commission under section 12 of Title I of the Securities Exchange Act of 1934, 15 U.S.C. §78l: Provided, That a publicly traded partnership as defined in section 7704 of the Internal Revenue Code having equity securities registered with the Securities and Exchange Commission under section 12 of Title I of the Securities Exchange Act of 1934, 15 U.S.C. §78l, and any other person or entity that is treated as a C corporation for federal income tax purposes, shall be treated as a corporation taxable under W. Va. Code §11-24-1et seq., for purposes of this rule.

2.2.6. "Motor Vehicle" means the following classes of vehicles defined in W. Va. Code §17A-10-1: Class A, Class B, Class G, Class H, Class T, Class V, Class X, and all-terrain vehicles and utility terrain vehicles as defined in W. Va. Code §20-15-2.

2.2.7. "Person" means and includes an individual, a trust, estate, partnership, pass-through entity, association, company, or corporation.

2.2.8. "Personal property" shall have the same meaning as in W. Va. Code §11-5-1et seq. For the purposes of this rule, the term "personal property" shall not include a working interest in any oil, natural gas, or natural gas liquid producing property or any property of a public service company.

2.2.9. "Personal property taxes paid" means the aggregate of regular levies, excess levies and bond levies extended against personal property that are timely paid during the calendar year and determined after any application of any discount for early payment of taxes. For example, if a taxpayer receives a personal property tax assessment of $200, but pays the assessment before the due date to take advantage of a discount and so pays $195 in full satisfaction of the assessment, then the "personal property taxes paid" would be the $195 actually paid, and not the $200 assessed amount. "Personal property taxes paid" does not include any untimely ad valorem property tax paid, or any payment of delinquent ad valorem property tax, or payment of "back tax" ad valorem property taxes, or any penalty or interest for late payment of property taxes. For purposes of determining personal property taxes paid, the phrase "during the calendar year" refers to the personal income tax taxable year or the corporation net income tax taxable year, whichever applies, during which the personal property taxes were paid, and does not refer to the property tax year.

2.2.10. "Public service company" means a corporation or other business entity which delivers services considered essential to the public interest that are regulated by the applicable federal or state regulatory body, including, but not limited to, businesses furnishing electricity, natural gas, telecommunications, and water, and those transporting personal property or passengers, including, but not limited to, airlines, railroads, trucking, and bus companies, and which are centrally assessed by the state for property tax purposes.

2.2.11. "Real property taxes paid" means the aggregate of regular levies, excess levies and bond levies that are timely paid during the calendar year and determined after any application of any discount for early payment of taxes. For example, if a taxpayer receives a real property tax assessment of $2,000, but pays the assessment before the due date to take advantage of a discount and so pays $1,950 in full satisfaction of the assessment, then the "real property taxes paid" would be the $1,950 actually paid, and not the $2,000 assessed amount. "Real property taxes paid" does not include any untimely ad valorem property tax paid, or any payment of delinquent ad valorem property tax, payment of supplemental assessments, or payment of "back tax" ad valorem property taxes, or any penalty or interest for late payment of property taxes. For purposes of determining real property taxes paid, the phrase "during the calendar year" refers to the personal income tax taxable year during which the real property taxes were paid, and does not refer to the property tax year.

2.2.12. "Timely paid" means paid before October 1 of the property tax year with respect to the first installment, and paid before April 1 of the following calendar year with respect to the second installment.

W. Va. Code R. § 110-21H-2