W. Va. Code R. § 110-24-20

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

Section 110-24-20 - Report of Change In Federal Taxable Income

20.1. General rule.

20.1.a. If the amount of a taxpayer's federal taxable income reported on its federal income tax return for any taxable year is changed or corrected by the United States Internal Revenue Service or other competent authority, or as the result of a renegotiation of a contract or subcontract with the United States, the taxpayer shall file an amended West Virginia return to report the change or correction in federal taxable income within the time specified in W. Va. Code § 11-24-20, after the final determination of the change, correction or renegotiation, or as otherwise required by the Tax Commissioner, and shall concede the accuracy of the determination or state in which it is erroneous, except as otherwise provided in this section.

20.1.b. Any taxpayer filing an amended federal income tax return shall also file an amended corporation net income tax return within the time specified in W. Va. Code § 11-24-20 and shall give the information as required by the Tax Commissioner.

20.2. Amended combined report. -- When the taxpayer files an amended return as provided in this section, and the taxpayer is a member of a combined group engaged in unitary business activity in this State, the taxpayer shall file with the amended return an amended combined report for the combined group.

20.3. Amended group return. -- The general rule provided in subsection 20.1. of this section applies when the taxpayer files its annual return on a separate company basis. For a taxable year beginning after December 31, 2009, a taxpayer engaged in unitary business activity in this State that shall file an amended return as provided in W. Va. Code § 11-24-20 and in this section, which filed under a group return as provided in W. Va. Code § 11-24-13e for the tax year at issue, may not file a separate amended return. Instead, the key member which filed the group return which included the taxpayer as one of the group filers, shall file an amended group corporation net income tax return for the tax year at issue. The key member shall attach to the amended group return an amended combined report for the combined group engaged in unitary business activity in this State.

W. Va. Code R. § 110-24-20