§11-13LL-1. Short Title
This article may be cited as the “West Virginia Industrial Advancement Act.”
§11-13LL-10. Rule-Making
(a) In order to effectuate the purposes of this article, the Tax Commissioner may promulgate procedural rules, interpretive rules and legislative rules, including emergency rules, or any combination thereof, in accordance with 29A-3-1 et seq. of this code. (b) In order to effectuate the purposes of this article, the Department of Economic Development or any […]
§11-13LL-11. Application of the West Virginia Tax Procedure and Administration Act and West Virginia Tax Crimes and Penalties Act
The provisions of this article are subject to the West Virginia Tax Procedure and Administration Act, set forth in 11-10-1 et seq. of this code, and the West Virginia Tax Crimes and Penalties Act, set forth in 11-9-1 et seq. of this code, as if the provisions thereof were set forth in extenso in this […]
§11-13LL-12. Effective Date
This article shall be effective for corporate net income tax years and personal income tax years beginning on and after January 1, 2022, with retrospective effective back to such date.
§11-13LL-13. Consumers Sales and Service Tax and Use Tax Exemption for Certificate Holders and for Construction Contractors
(a) Notwithstanding the provisions of 11-15-1 et seq. and 11-15A-1 et seq. of this code and notwithstanding the provisions of 11-15-8d of this code, or any other provision of this code, purchases of building materials, tangible personal property, and services by a construction contractor or construction subcontractor or by an eligible certificate holder, used in […]
§11-13LL-14. Certain Taxes Prohibited
Notwithstanding any other provision of this code, municipalities may not impose any business and occupation tax, excise tax, sales or use tax, license tax, license fee, amusement tax, public utilities tax, consumption tax franchise tax, or any other municipal tax or municipal fee on persons who hold a current certification issued under this article. This […]
§11-13LL-2. Legislative Findings and Purpose
The Legislature finds that the location of new labor and capital intensive heavy industrial facilities in this state, and the expansion, growth and revitalization of labor and capital intensive heavy industrial facilities in this state is in the public interest and promotes the general welfare of the people of this state.
§11-13LL-3. Definitions
(a) Any term used in this article has the meaning ascribed by this section unless a different meaning is clearly required by the context of its use or by definition in this article. (b) For purpose of this article, the term: (1) “Combined group” means a combined group as defined in 11-24-3a of this code […]
§11-13LL-4. Amount of Qualified Labor Intensive Heavy Industrial Manufacturing Project Tax Credit Allowed for Manufacturing Investment
(a) Credit allowed. There is allowed or allowable to eligible taxpayers and to persons described in subdivision (4), subsection (b) of this section a credit against the taxes imposed by 11-21-1 et seq. and 11-24-1-1 et seq. of this code. (b) Amount of credit allowable. The amount of allowable credit under this article is equal […]
§11-13LL-5. Qualified Manufacturing Investment
(a) General. The qualified manufacturing investment is the applicable percentage of the cost of property purchased for manufacturing investment, which is placed in service or use in this state, by the eligible taxpayer during the taxable year. (b) Applicable percentage. (1) For the purposes of subsection (a) of this section, the applicable percentage for any […]
§11-13LL-6. Forfeiture of Unused Tax Credits; Redetermination of Credit Allowed
Disposition of property or cessation of use. If during any taxable year, property with respect to which a tax credit has been allowed under this article: (a) Is disposed of prior to the end of its useful life, as determined under 11-13LL-5 of this code; or (b) Ceases to be used in an industrial facility […]
§11-13LL-7. Transfer of Property Purchased for Manufacturing Investment to Successors
(a) Mere change in form of business. Property may not be treated as disposed of under section six of this article, by reason of a mere change in the form of conducting the business as long as the property is retained in a business in this state for use in the activity of manufacturing in […]
§11-13LL-8. Identification of Investment Credit Property
(a) Every taxpayer who claims credit under this article shall maintain sufficient records to establish the following facts for each item of property purchased for manufacturing investment: (1) Its identity;
§11-13LL-9. Failure to Keep Records of Property Purchased for Manufacturing Investment
A taxpayer who does not keep the records required for property purchased for manufacturing investment, is subject to the following rules: (a) A taxpayer is treated as having disposed of, during the taxable year, any property purchased for manufacturing investment which the taxpayer cannot establish was still on hand and used in manufacturing activity in […]