The Legislature finds that the encouragement of small arms and ammunition manufacturing 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 manufacturing of small arms and ammunition in this state and thereby increase economic opportunity for its […]
(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 11-13KK-1 et seq. of this code; and no legal effect may be given to any descriptive matter or heading relating to any section, subsection, […]
(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 11-13KK-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 […]
(a) Beginning on February 1, 2026, and every fifth 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 five-year period for which information […]
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 11-13KK-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 […]
Each 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 11-13KK-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 tax credit […]
Each 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 11-13KK-1 et seq. of this code with like effect as if that act were applicable only to the tax credit 11-13KK-1 et seq. of this code and were […]
(a) If any provision of 11-13KK-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 11-13KK-1 et seq. of this code, but shall be confined in its operation to the […]
The credit allowed by this article is allowable for qualified investment property placed in service or use on or after July 1, 2021, subject to the rules contained in 11-13KK-1 et seq. of this code and rules promulgated by the Tax Commissioner pursuant to 29A-3-1 et seq. of this code.
(a) General. When used in this article, or in the administration of 11-13KK-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 11-13KK-1 […]
(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 small arms and ammunition manufacturing facility in this state: Provided, That such qualified […]
(a) The amount determined under 11-13KK-3 is allowed as a credit against 100 percent of that portion of the taxpayers state tax liability which is attributable to and the direct result of the taxpayers qualified investment and applied as provided in subsections (b) and (c), both inclusive of this section, and in that order. (b) […]
(a) General. The qualified investment in property purchased or leased for a new, or expansion of an existing, small arms and ammunition 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, small arms and ammunition manufacturing facility which […]
(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 11-13KK-1 et seq. of this code is disposed of or ceases to be used in a small arms and ammunition manufacturing facility of the taxpayer in this state, then the […]
(a) Mere change in form of business. Property may not be treated as disposed of under 11-13KK-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 small arms and ammunition manufacturing facility in this state, and the transferor […]
Every taxpayer who claims credit under 11-13KK-1 et seq. of this code shall maintain sufficient records to establish the following facts for each item of qualified 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 investment credit property which the taxpayer cannot establish was still on hand, in this state, at the end of that […]
