W. Va. Code R. § 110-23-17a

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

Section 110-23-17a - Tax Credit For Business Investment And Jobs Expansion; Industrial Expansion And Revitalization; Eligible Research And Development Projects; Coal Loading Facilities And Consumers Sales And Service Tax And Use Tax Paid

17a.1. There shall be allowed as credit against the tax imposed by the Business Franchise Tax Act for the taxable year the amount determined under Sections ''11-13C-1 et seq., 11-13D-1 et seq. and 11-13E-1 et seq. of the West Virginia Code relating respectively to:

17a.1.1. The tax credit for business investment and jobs expansion;

17a.1.2. The tax credit for industrial expansion and revitalization and eligible research and development projects; and

17a.1.3. The tax credit for coal loading facilities.

17a.2. Reserved for future use.

17a.3. Credit for Consumers Sales and Service Tax and Use Tax Paid. -- The tax imposed by Section '11-23-1 of the West Virginia Code shall be subject to the credits allowed for tax exempt purchases or uses which are set forth at Section ''11-15-9b and Section 11-15A-3 b of the West Virginia Code, in accordance with the said Section ''11-15-9b or Section 11-15A-3 b.

17a.4. Order in Which Credits are Taken. -- The credits set forth in Section 110-23-17 a shall be taken after the credits set forth in Section 110-23-17 and shall be taken in the following order:

17a.4.1. First, the credit set forth in Section 17a.1 of these regulations, if any.

17a.4.2. Second, the credit set forth in Section 17a.3 of these regulations, if any.

W. Va. Code R. § 110-23-17a