West Virginia Business Resource Directory

West Virginia Tax DepartmentProgram: Manufacturing Investment Tax CreditFinancial AssistanceS t a t e w i d eContactTaxpayer Services Division304.558.33331.800.982.8297TaxWVTaxAid@wv.govTargetAudienceFundingBusiness engaged in activities having a North American Industry ClassificationSystem (NAICS) code prefix of 31, 32 or 33 or a North American IndustryClassification System code of 211112.N/ATotal available: N/AMinimum or maximum amount a participant can receive:ApplicationProcessAn application must be filed for each year when qualified investment is placedin service or use. A schedule is filed with each tax return on which the credit isclaimed.Deadlines:Application must be filed on or before the due date of the income tax returnfor the year when qualified investment is first placed in service or use.Description5% of qualified investment taken proportionally over 10 years Annual creditcan offset up to 60% of Severance tax, business franchise tax & corporate netincome tax for a period of 10 years.W E S T V I R G I N I A D E V E L O P M E N T O F F I C E D–55