§11-24-7. Allocation and Apportionment
(a) General. Any taxpayer having income from business activity which is taxable both in this state and in another state shall allocate and apportion its net income as provided in this section. For purposes of this section, the term “net income” means the taxpayers federal taxable income adjusted as provided in section six of this […]
§11-24-7a. Special Apportionment Rules
(a) General. — The Legislature hereby finds that the general formula set forth in section seven of this article for apportioning the business income of corporations taxable in this as well as in another state is inappropriate for use by certain businesses due to the particular characteristics of those businesses or the manner in which […]
§11-24-7b. Special Apportionment Rules – Financial Organizations
(a) General. -– The Legislature hereby finds that the general formula set forth in section seven of this article for apportioning the business income of corporations taxable in this state as well as in another state is inappropriate for use by financial organizations due to the particular characteristics of those organizations and the manner in […]
§11-24-8. Accounting Periods and Methods of Accounting
(a) Period of computation of West Virginia taxable income. — For purposes of the tax imposed by this article, a taxpayer's taxable year shall be the same as the taxpayer's taxable year for federal income tax purposes. (b) Change of taxable year. — If a taxpayer's taxable year is changed for federal income tax purposes, […]
§11-24-9. Credits Against Primary Tax; Election of Taxpayer; Expiration of Credit
(a) Credit for primary taxes imposed under article thirteen, chapter eleven of this code. — A credit shall be allowed against the primary tax imposed by this article equal to the amount of the liability of the taxpayer for the taxable year for any tax imposed under article thirteen, chapter eleven of this code: Provided, […]
§11-24-9a. Credits Against Primary Tax; Election of Taxpayer
Credit for primary taxes imposed under article thirteen-a, chapter eleven of this code. — A credit shall be allowed against the primary tax imposed by this article equal to the amount of the liability of the taxpayer for the taxable year for the severance tax imposed under article thirteen-a, chapter eleven of this code: Provided, […]
§11-24-9b. Limited Tax Credits – Financial Organizations
(a) Definitions. — For purposes of this section: (1) "Adjusted base year tax liability" means the taxpayer's corporation net income tax liability under this article, for the tax year ending immediately on or before December 31, 2008, before application of any surtax, alternative minimum tax or credit allowed, authorized or imposed under this chapter, adjusted […]
§11-24-9c. Research and Development Credit Against Primary Tax
A credit shall be allowed against the primary tax imposed by this article, which shall be the research and development credit as provided in sections three and three-b, article thirteen-d of this chapter for taxable years beginning after December 31, 1988: Provided, That the amount of this credit may not reduce by more than fifty […]
§11-24-10. Credit for Hiring of Qualified Employees by Eligible Taxpayers Engaged in Manufacturing
(a) A credit shall be allowed under the provisions of this section against the primary tax liability of the taxpayer under this article to eligible taxpayers who hire qualified employees during the period beginning April 1, 1983, and ending December 31, 1984. (b) For the purpose of this section, the term "eligible taxpayer" means a […]
§11-24-4a. Effect of Rate Changes During Taxable Year
(a) If any rate of tax imposed by this article changes to become effective after December 31, of a calendar year, and if the taxable year included the effective date of the change of rate (unless that date is the first day of the taxable year) then: (1) Tentative taxes shall be computed by applying […]