West Virginia Code of State Rules
Agency 110 - Tax
Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT
Series 110-13KK - West Virginia Tax Credit for Federal Excise Tax Imposed Upon Small Arms and Ammunition Manufacturers
Section 110-13KK-9 - Failure to keep records of investment credit property
Universal Citation: 110 WV Code of State Rules 110-13KK-9
Current through Register Vol. XLI, No. 38, September 20, 2024
9.1. A taxpayer who does not keep the records required for identification of investment credit property is subject to the following rules:
9.1.1. A taxpayer is treated
as having disposed of during the taxable year any investment credit property
that the taxpayer cannot establish was still on hand, in this state, at the end
of that year.
9.1.2. If a taxpayer
cannot establish when investment credit property reported for purposes of
claiming this credit during the taxable year was placed in service, the
taxpayer is treated as having placed it in service in the most recent prior
year in which similar property was placed in service, unless the taxpayer can
establish that the property placed in service in the most recent year is still
on hand. In that event, the taxpayer will be treated as having placed the
returned property in service in the next most recent year.
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.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
