§11-13GG-1. Short Title
This article may be cited as the Downstream Natural Gas Manufacturing Investment Tax Credit Act of 2020.
§11-13GG-10. Transfer of Qualified Investment to Successors
(a) Mere change in form of business. Property may not be treated as disposed of under 11-13GG-8 of this code, by reason of a mere change in the form of conducting the business as long as the property is retained in the successors downstream natural gas manufacturing facility in this state, and the transferor business […]
§11-13GG-11. Identification of Investment Credit Property
Every taxpayer who claims credit under 11-13GG-1 et seq. of this code shall maintain sufficient records to establish the following facts for each item of qualified property: (1) Its identity;
§11-13GG-12. Failure to Keep Records of Investment Credit Property
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 investment credit property which the taxpayer cannot establish was still on hand, in this state, at the end of that […]
§11-13GG-13. Interpretation and Construction
(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 11-13GG-1 et seq. of this code; and no legal effect may be given to any descriptive matter or heading relating to any section, subsection, […]
§11-13GG-14. Burden of Proof; Application Required; Failure to Make Timely Application
(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 11-13GG-1 et seq. of this code. (b) Application for credit required. (1) Application required. Notwithstanding any provision of this article to the contrary, no credit is […]
§11-13GG-15. Tax Credit Review and Accountability
(a) Beginning on February 1, 2025, and every third year thereafter, the Tax Commissioner shall submit to the Governor, the President of the Senate, and the Speaker of the House of Delegates a tax credit review and accountability report evaluating the cost effectiveness of this credit during the most recent three-year period for which information […]
§11-13GG-16. Rules
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 11-13GG-1 et seq. of this code and to implement the intent of the Legislature. The Tax Commissioner may promulgate emergency rules if they are filed in the West Virginia […]
§11-13GG-17. General Procedure and Administration
Each and every provision of the “West Virginia Tax Procedure and Administration Act” set forth in 11-10-1 et seq. of this code applies to the tax credit allowed under 11-13GG-1 et seq. of this code, except as otherwise expressly provided in this article, with like effect as if that act were applicable only to the […]
§11-13GG-18. Crimes and Penalties
Each and every provision of the “West Virginia Tax Crimes and Penalties Act” set forth in 11-9-1 et seq. of this code applies to the tax credit allowed by 11-13GG-1 et seq. of this code with like effect as if that act were applicable only to the tax credit 11-13GG-1 et seq. of this code […]
§11-13GG-19. Severability
(a) If any provision of 11-13GG-1 et seq. of this code, 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 11-13GG-1 et seq. of this code, but shall be confined in its operation to the […]
§11-13GG-2. Legislative Finding and Purpose
The Legislature finds that the encouragement of downstream manufacturing in this state is in the public interest and promotes the general welfare of the people of this state. In order to encourage greater capital investment in downstream natural gas manufacturing businesses in this state and thereby increase economic opportunity in this state, there is hereby […]
§11-13GG-20. Effective Date
The credit allowed by this article is allowable for qualified investment property placed in service or use on or after July 1, 2020, subject to the rules contained in 11-13GG-1 et seq. of this code and rules promulgated by the Tax Commissioner pursuant to 29A-3-1 et seq. of this code.
§11-13GG-3. Definitions
(a) General. – When used in this article, or in the administration of 11-13GG-1 et seq. of this code, terms defined in subsection (b) 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 […]
§11-13GG-4. Amount of Credit Allowed
(a) Credit allowed. Notwithstanding any other provision of this code, eligible taxpayers are allowed a credit against the portion of taxes imposed by this state that are attributable to and the consequence of the taxpayers qualified investment in a new or expanded downstream natural gas manufacturing facility in this state, which results in the creation […]
§11-13GG-5. Application of Annual Credit Allowance
(a) In general. The aggregate annual credit allowance for the current taxable year is an amount equal to the sum of the following: (1) The one-tenth part allowed under 11-13GG-4 of this code for qualified investment property placed into service or use during a prior taxable year; plus
§11-13GG-6. Qualified Investment
(a) General. The qualified investment in property purchased or leased for a new, or expansion of an existing, downstream natural gas manufacturing facility is the applicable percentage of the cost of each property purchased or leased for the purpose of the new, or expansion of an existing, downstream natural gas manufacturing facility which is placed […]
§11-13GG-7. New Jobs Percentage
(a) In general. The new jobs percentage is based on the number of new jobs created in this state directly attributable to the qualified investment of the taxpayer. (b) When a job is attributable. An employees position is directly attributable to the qualified investment if: (1) The employees service is performed or his or her […]
§11-13GG-8. Forfeiture of Unused Tax Credits; Redetermination of Credit Allowed
(a) Disposition of property or cessation of use. If during any taxable year, property with respect to which a tax credit has been allowed under 11-13GG-1 et seq. of this code: (1) Is disposed of prior to the end of its useful life, as determined under 11-13GG-6 of this code; or
§11-13GG-9. Recapture of Credit; Recapture Tax Imposed
(a) When recapture tax applies. (1) Any person who places qualified investment property in service or use at a downstream natural gas manufacturing facility and who fails to use the qualified investment property for at least the period of its useful life, as determined as of the time the property was placed in service or […]