The Legislature finds that the encouragement of economic growth and development in this state is in the public interest and promotes the general welfare of the people of this state. In order to encourage capital investment in the coal industry in this state and thereby increase economic development, there is hereby provided a coal severance […]
(a) Mere change in form of business. Machinery and equipment may not be treated as disposed of under 11-13EE-9 of this article, by reason of a mere change in the form of conducting the business as long as the machinery and equipment is retained in the successor business in this state, and the transferor business […]
(a) When recapture tax applies. (1) Any person who places machinery and equipment in service or use for purposes of this credit and who fails to use the machinery and equipment for at least 5 years in the production of coal in this state shall pay the recapture tax imposed by subsection (b) of this […]
(a) No inference, implication or presumption of legislative construction or intent may be drawn or made by reason of the location or grouping of any particular section, provision or portion of this article; and no legal effect may be given to any descriptive matter or heading relating to any section, subsection or paragraph of this […]
(a) The Tax Commissioner shall provide to the Joint Committee on Government and Finance by July 1, 2022, and on the first day of July of each year thereafter, a report detailing the amount of rebate claimed pursuant to this article. The report is to include the amount of rebate claimed against the severance tax […]
The Tax Commissioner may promulgate such interpretive, legislative and procedural rules as the Commissioner deems to be useful or necessary to carry out the purpose of this article and to implement the intent of the Legislature. The tax commissioner may promulgate emergency rules if they are filed in the West Virginia Register before January 1, […]
(a) If any provision of this article or the application thereof is for any reason adjudged by any court of competent jurisdiction to be invalid, the judgment may not affect, impair or invalidate the remainder of the article, but shall be confined in its operation to the provision thereof directly involved in the controversy in […]
The rebate allowed by this article is allowed for capital investment in new machinery and equipment placed in service or use in this state on or after July 1, 2019. As the changes in sections 11-13EE-2, 11-13EE-3, and 11-13EE-5 are intended to clarify the original intent and meaning of this article, the amendments to this […]
(a) General. When used in this article, or in the administration of this article, terms defined in subsection (b) shall have the meanings ascribed to them by this section, unless a different meaning is clearly required by either the context in which the term is used, or by specific definition, in this article. (b) Terms […]
(a) Rebate allowable. Eligible taxpayers shall be allowed a rebate against a portion of severance taxes imposed by 11-13A-3 of this code on the privilege of engaging in the production of coal in an amount not to exceed 35 percent of the eligible taxpayers qualified investment in tangible personal property purchased or leased for business […]
(a) A taxpayer claiming rebate under this article who operates more than one coal mine in this state shall provide a schedule with the annual severance tax return filed under 11-13A-1 et seq. of this code that shows, for each coal mine, the number of tons of coal produced and the gross value of the […]
(a) After the severance taxes due for the taxable year are paid, a taxpayer may file a claim under this article for rebate of up to 80 percent of the increase in the state portion of the severance taxes paid under 11-13A-3 of this code. (b) When the amount of rebate claimed exceeds 80 percent […]
(a) No rebate may be paid under this article when the taxpayer, or any member of the taxpayers combined or affiliated group, as the case may be, is delinquent in the payment of severance taxes imposed pursuant to 11-13A-3 of this code, and any local, state or federal tax or fee, until such time as […]
(a) Burden of proof. The burden of proof is on the taxpayer to establish by clear and convincing evidence that the taxpayer is entitled to the benefits allowed by this article. (b) Application for rebate required. (1) Notwithstanding any provision of this article to the contrary, no rebate shall be paid under this article for […]
Every taxpayer who claims credit under this article shall maintain sufficient records to establish the following facts for each item of qualified investment property: (1) Its identity;
A taxpayer who does not keep the records required for identification of investment credit property is subject to the following rules: (1) A taxpayer is treated as having disposed of, during the taxable year, any machinery and equipment that the taxpayer cannot establish was still on hand, in this state, at the end of that […]
