W. Va. Code R. § 117-3-12

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

Section 117-3-12 - Ruling Procedure

12.1. General Rule. -- Any person may request an informal ruling from the Authority concerning the application of the Act and this Rule to a specific set of facts and circumstances. The Authority shall not issue rulings concerning the tax ramifications of investment in a Fund or Fund Share. Any tax ruling requests shall be directed to the West Virginia Department of Tax and Revenue.

12.2. Request Requirements. -- A ruling request shall meet the following requirements in order to be considered by the Authority:

12.2.a. The ruling request shall be in writing and sent by certified mail to the Authority at the following address: West Virginia Economic Development Authority, NorthGate Business Park, 160 Association Drive, Charleston, WV 25311-1217;

12.2.b. Any factual representations upon which the ruling will be based shall be verified under oath;

12.2.c. The request shall state the ruling that is requested and shall contain legal analysis in support of the requested ruling;

12.2.d. The request shall be accompanied by a non-refundable filing fee of five hundred dollars ($500.00) per issue addressed in the ruling requested;

12.2.e. The request shall contain the name, mailing address and telephone number of a person that can be contacted by the Authority for further information concerning the request; and

12.2.f. Any additional information requested by the Authority shall be submitted in writing. Additional information shall be verified under oath if it involves factual representations.

12.3. Publication of Rulings; Reliance; Modification. -- The Authority may publish or release summaries of previous rulings with facts or characteristics identifying the person or persons requesting the ruling omitted. However, the only persons who may rely upon a ruling by the Authority are those persons who requested and received the ruling. As to those persons, the Authority reserves the right to notify the recipient of the ruling at the recipient's last address known to the Authority that the subject ruling may no longer be relied upon as of the date of the notice. A ruling may be prospectively modified if the Authority determines that the ruling was incorrect or is in conflict with the Act, this Rule or any other substantive legal precedent.

12.4. Denial of Requests. -- The Authority may decline to issue a ruling and return the filing fee to the person requesting the ruling. From time to time, the Authority may announce those areas in which it will not issue rulings.

W. Va. Code R. § 117-3-12