W. Va. Code R. § 110-29-3

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

Section 110-29-3 - Tax Credit Authorized; Effective Date; Administration

3.1. Effective July 12, 2013, W. Va. Code § 22-3-11 authorizes a tax credit for reclamation and remediation at bond forfeiture sites when performed to the standards of the permit and the Act.

3.2. In accordance with W. Va. Code §§ 22-3-11a and 23-3-11(g)(2)(C), the tax imposed by West Virginia Code § 22-3-11 and the tax credit authorized under it are administered under W. Va. Code § 11-10-1et seq.

3.3. The special reclamation tax credit shall first apply to a particular taxpayer for the first taxable year (as determined for federal income tax purposes) beginning on or after July 12, 2013.

3.3. The tax credit may only be taken against the special reclamation tax imposed under W. Va. Code § 22-3-11.

3.3.a. The credit may not be applied to offset any other tax.

W. Va. Code R. § 110-29-3