Amount of credit allowed

# (a)

Credit allowed. -- Eligible taxpayers shall be allowed a credit against the tax imposed under article twenty-three or twenty-four of this chapter, the application of which and the amount of which shall be determined as provided in this article.

# (b)

Amount of credit. -- The amount of credit allowed to the eligible taxpayer is the amount of West Virginia ad valorem property tax paid on the value of manufacturing inventory of the eligible taxpayer during the corporate net income tax year and business franchise tax year.

Source: view the official text

In this chapter (40 sections)

11-13V-15 · Records
11-13V-16 · General procedure and administration
11-13V-17 · Crimes and penalties
11-13W-1 · Tax credits for apprenticeship training in construction…
11-13X-1 · Short title
11-13X-2 · Legislative findings and purpose
11-13X-3 · Definitions
11-13X-4 · Creation of the tax credit
11-13X-5 · Amount of credit allowed; limitation of the credits
11-13X-6 · Requirements for credit
11-13X-7 · Application of credit to state taxes
11-13X-8 · Uses of credit; unused credit; carry forward; carry back…
11-13X-9 · Legislative rules
11-13X-10 · Burden of proof
11-13X-11 · Tax credit review and accountability
11-13X-12 · Economic development; utilization of state locations,…
11-13X-13 · Effective date, elimination of film tax credits,…
11-13Y-1 · Short title
11-13Y-2 · Definitions
11-13Y-3 · Eligibility for tax credits; creation of the credit
11-13Y-4 · Amount of credit allowed
11-13Y-5 · Application of annual credit allowance
11-13Y-6 · Availability of credit to successors
11-13Y-7 · Credit recapture; interest; penalties; additions to tax;…
11-13Y-8 · Report on credit
11-13Y-9 · Effective date
11-13Z-1 · Amount of credit
11-13Z-2 · Restrictions
11-13Z-3 · Carryover credit allowed; Tax Commissioner to promulgate…
11-14-1 · Short title; arrangement of sections or portions of article
11-14-2 · Definitions
11-14-3 · Imposition of tax
11-14-3A · Applicability of rate increase to gasoline or special fuel…
11-14-4 · Computation of tax
11-14-5 · Exemptions from tax
11-14-5A · Exemption for bulk sales to interstate motor carriers
11-14-5B · Exemptions for sales made through special devices
11-14-6 · Gasoline or special fuel exported or in interstate commerce;…
11-14-7 · Due date of reports; reports required; records to be kept;…
11-14-8 · Tax due

Full table of contents →