West Virginia Code of State Rules
Agency 110 - Tax
Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT
Series 110-13B - Telecommunications Tax
Section 110-13B-4 - Accounting Periods And Methods Of Accounting
Universal Citation: 110 WV Code of State Rules 110-13B-4
Current through Register Vol. XLI, No. 38, September 20, 2024
4.1. Taxable year. For purposes of the telecommunications tax, a taxpayer's taxable year shall be the same as the taxpayer's taxable year for federal income tax purposes.
4.2. Change of taxable year. If a taxpayer's taxable year is changed for federal income tax purposes, the taxpayer's taxable year for purposes of the telecommunications tax shall be changed to correspond with the taxpayer's taxable year for federal income tax purposes. The taxpayer shall file a copy of the authorization of such change from the Internal Revenue Service with its annual return for the taxable year filed under Article 13B.
4.3. Methods of accounting.
4.3.1. Same as federal. A taxpayer's method
of accounting for the telecommunications tax shall be the same as the
taxpayer's method of accounting for federal income tax purposes. In the absence
of any method of accounting for federal income tax purposes, the accrual method
of accounting shall be used unless the Tax Commissioner, in writing, consents
to use of another method.
4.3.2.
Change of accounting methods. If a taxpayer's method of accounting is changed
for federal income tax purposes, his method of accounting for purposes of the
telecommunications tax shall be also changed to be identical to that used by
the taxpayer for federal income tax purposes. The taxpayer shall provide a copy
of the authorization for such change from the Internal Revenue Service, with
its annual return for the taxable year filed under this Article.
Disclaimer: These regulations may not be the most recent version. West Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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