West Virginia Code of State Rules
Agency 110 - Tax
Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT
Series 110-13X - West Virginia Film Industry Investment Act
Section 110-13X-9 - General Procedure and Administration

Universal Citation: 110 WV Code of State Rules 110-13X-9

Current through Register Vol. XLI, No. 38, September 20, 2024

9.1. Requirements to Claim the Tax Credit. -- To claim a tax credit, the eligible company shall comply with W. Va. Code § 11-13X-1, et seq. and this rule and shall timely provide complete and accurate forms, returns, schedules and other information required by the Tax Commissioner or Department of Economic Development.

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 provides for administration of those taxes.

9.3. Maintenance of Records. -- An eligible company shall 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. Failure to do so may result in denial of the tax credit.

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