Current through Register Vol. XLI, No. 50, December 13, 2024
Section 117-5-9 - General Procedure and Administration9.1. Requirements to Claim the Tax Credit. -- To claim this tax credit, a taxpayer shall comply with the Statute and this Rule, and shall timely provide complete and accurate forms, schedules and other information required by the Tax Commissioner. 9.1.a. The taxpayer shall file required forms, schedules and information requested by the Tax Commissioner by the due date of the return for the taxes against which the tax credit is to be applied, with regard to any extension of time for filing but without regard to any extension of time for payment.9.2. Applicability of Various Tax Laws. -- Application of this credit and eligibility for this credit shall not abrogate application of the provisions of W. Va. Code § 11-23-1 et seq. (Business Franchise Tax), W. Va. Code § 11-24-1 et seq. (Corporation Net Income Tax) and W. Va. Code § 11-21-1 et seq. (Personal Income Tax), and rules issued pursuant to those statutes, with respect to any eligible taxpayer or owner of any eligible taxpayer to the extent that they may be subject to the provisions of those laws, and shall not abrogate application of the provisions of W. Va. Code § 11-10-1 et seq. (Procedure and Administration) which provide for administration of those taxes.9.3. Maintenance of Records. -- A taxpayer that does not maintain the records required to verify the validity of its eligibility for the tax credit and the accuracy of the amount of the tax credit claimed may be denied the tax credit or be subject to recapture to the extent the eligibility and accuracy are not substantiated by its records.