West Virginia Code of State Rules
Agency 110 - Tax
Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT
Series 110-23 - Business Franchise Tax
Section 110-23-6 - Imposition Of Tax

6.1. General. -- An annual business franchise tax is imposed under Section '11-23-6 of the West Virginia Code on the privilege of doing business in the State of West Virginia and in respect of the benefits and protections conferred. Such tax is collected from every domestic corporation, every corporation having its commercial domicile in the State of West Virginia, every foreign or domestic corporation leasing property located in the State of West Virginia or doing business in the State of West Virginia, and from every partnership owning or leasing property located in the State of West Virginia or doing business in the State of West Virginia. The tax is effective beginning July 1, 1987 for taxable years ending after that date.

6.2. Amount of tax and rate: July 1, 1987 to December 31, 1988. -- On and after the first day of July, 1987, the amount of tax imposed under Section '11-23- 6 and generally under Section '11-23-1 et seq. of the West Virginia Code shall be the greater of fifty dollars ($50.00) or .55% of the value of the tax base, as determined under Section '11-23-1 et seq. of the West Virginia Code and these regulations: Provided, That when the taxpayer's first taxable year under the said Section '11-23-1 et seq. of the West Virginia Code is a short taxable year, the taxpayer's liability shall be prorated based upon the ratio which is the number of months which the said short taxable year bears to twelve (12).

6.3. Taxable years after December 31, 1988. -- For taxable years beginning on or after the first (1st) day of January, 1989, the amount of tax due under the Business Franchise Tax Act and these regulations shall be the greater of fifty dollars ($50) or .75% of the value of the tax base as determined under the West Virginia Business Franchise Tax Act and these regulations. When the taxpayer's taxable year for federal income tax purposes is a short taxable year, the tax determined by application of the tax rate to the taxpayer's tax base shall be prorated based upon the ratio which the number of months in such short taxable year bears to twelve (12). However, when the taxpayer's first taxable year under the West Virginia Business Franchise Tax Act and these regulations is less than twelve (12) months, the taxpayer's liability shall be prorated based upon the ratio which the number of months the taxpayer was doing business in this State bears to twelve (12). In no event shall the tax due be less than fifty dollars ($50).