West Virginia Code of State Rules
Agency 110 - Tax
Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT
Series 110-29 - Special Reclamation Tax Credit
Section 110-26-5 - Ineligibility for Tax Credit; Limitation of Tax Credit

Universal Citation: 110 WV Code of State Rules 110-26-5

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

5.1 The qualified operator must be in good standing with the Tax Commissioner before receiving or claiming any credit. For the purposes of this rule, "good standing" means that the qualified operator has filed all required tax returns and related reports and that every tax administered under the West Virginia Tax Procedure and Administration Act imposed on the qualified operator has been provided for or paid.

5.2 A qualified operator that held an Article 3 permit for the bond forfeited mine site that was revoked by the Secretary and its bond forfeited, is not eligible for the special reclamation tax credit earned as a result of performing reclamation on the subject bond forfeited mine site.

5.3 Beginning in the year in which the Tax Commissioner issues a certification of tax credit to a qualified operator, the following rules apply:

5.3.a The qualified operator may use the credit to offset its payment of or liability for the special reclamation tax for the tax year.

5.3.b If any credit remains after application of the credit as provided in subsection 5.3.a., the remaining credit may be claimed only by any related entity, as that term is defined in W.Va. Code § 11-24-3a, that engages in a unitary business, as that term is defined in W.Va. Code § 11-24-3a, with the qualified operator. Provided, that the qualified operator is in good standing as provided in section 5.1. of this rule.

5.3.c If any credit remains after application of subsections 5.3.a and 5.3.b, the credit may be carried forward for use in future tax years in the same manner as provided in this subsection, until no credit is remaining.

5.3.d The credit is not refundable, it may not be carried back to a prior tax year and may not be transferred except as provided in subdivision 5.3.b. of this rule

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