West Virginia Business Resource Directory

West Virginia Tax DepartmentProgram: Strategic Research & Development Tax CreditFinancial AssistanceS t a t e w i d eContactTaxpayer Services Division304.558.33331.800.982.8297TaxWVTaxAid@wv.govTargetAudienceFundingManufacturing entities that pay West Virginia property tax on inventories.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. No tax credit may be claimed until the Tax Commissioner affirmativelycertifies the project.Deadlines:An application must be filed on or before the due date of the income tax returnfor each year when qualified investment is placed in service or use.DescriptionEligibleApplicantsRestrictionsCredit is the higher of 3% of all qualified expenses & qualified investment, or10% of the excess of qualified expenses & qualified investment for the taxableyear over the average for a 3 year base period. Credit offsets up to 100% of BFT& CNIT in the order stated. Excess credit may be carried forward for a periodnot to exceed 10 tax years.Businesses engaged in qualified research and development activities withinWest Virginia.Failure to fulfill statutory requirements may result in recapture or recalculationof the tax credit.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–71