§11-13AA-1. Short Title
This article may be cited as the "West Virginia Commercial Patent Incentives Tax Act."
§11-13AA-10. Promulgation of Rules
The Tax Commissioner shall adopt procedural and interpretive rules or propose legislative rules for legislative approval, as appropriate, in the manner prescribed in article three, chapter twenty-nine-a of this code, that the Tax Commissioner considers necessary to administer this article.
§11-13AA-11. 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 this article; and no legal effect may be given to any descriptive matter or heading relating to any section, subsection or paragraph of this […]
§11-13AA-12. Effective Date
The provisions of this article retroactively become effective on January 1, 2011, and apply only to a patent developed in this state in tax years beginning on or after January 1, 2011, and to a patent purchased, leased or licensed for use on or after that date for direct use in the taxpayer's manufacturing process […]
§11-13AA-13. Termination of Credit
The Tax Commissioner may not allow any credit for a patent developed or purchased leased or licensed after December 31, 2016, unless this credit is sooner terminated or continued by the Legislature. Termination of the credit allowed by this article, as provided in this section, does not adversely affect the ability of a taxpayer to […]
§11-13AA-2. Legislative Findings and Purpose
The Legislature finds that encouraging the development and use of commercial intellectual properties in this state is in the public interest and promotes the general welfare of the people of this state. In order to encourage greater development and use in this state of commercial intellectual properties by West Virginia businesses and thereby increase economic […]
§11-13AA-3. Definitions
(a) General. — When used in this article, or in the administration of this article, terms defined in subsection (b) of this section 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 […]
§11-13AA-4. Tax Incentive for Developing Patents in This State
(a) Allowance of credit. — A person engaging in this state in developing plant patent, design patent or patents for direct use in a manufacturing process or product and who has an agreement, as defined in section three of this article, is allowed a credit, when computing the person's liability for business franchise tax imposed […]
§11-13AA-5. Tax Credit for Use of a Patent in a Manufacturing Process or Product in This State That Was Developed in This State
(a) Allowance of credit. — A person directly using a plant patent, design patent or patent developed in this state in a manufacturing process or product in this state is allowed a credit against the person's liability for business franchise tax imposed by article twenty-three of this chapter and corporation net income tax imposed by […]
§11-13AA-6. Transfer of Credit to Successors
(a) Mere change in form of business. — A patent may not be treated as disposed of by reason of a mere change in the form of conducting the business as long as the patent is retained and directly used in a manufacturing process or product in this state and the person that developed the […]
§11-13AA-7. Identification of a Patent and Required Records
(a) Required records. — Every developer of a patent in this state for direct use in a manufacturing process or product and every person who uses a patent directly in a manufacturing process or product in this state who claims a credit under this article shall maintain sufficient records to establish the following facts for […]
§11-13AA-8. Failure to Keep Records of a Patent for Which Credit Allowed
A person who does not keep the records required for identification of a patent for which a credit would be allowable under this article is subject to the following rules: (1) A person is treated as having disposed of, during the taxable year, any patent for which a credit was allowed under this article which […]
§11-13AA-9. Tax Credit Review and Accountability
(a) Beginning on February 1, 2013, and continuing annually on February 1, 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 the credits allowed under this article during the most recent […]