INCENTIVE DESCRIPTION

State: WV
Incentive Type: Income/Franchise Tax Incentives and Credits
Incentive Title: Jobs Credits
Description: 1. ECONOMIC OPPORTUNITY CREDIT Tax credit of 20% (or higher, dependent on number of new jobs created) of a qualified investment is available for qualified businesses with a qualified investment. This credit is pro-rated over a 10-year period at a rate of 10% per year. The credit can offset a portion of the tax attributable to qualified investment for the Business and Occupation Tax (electric power generation taxes only), Business Franchise Tax, Corporation New Income Tax, and Personal Income Tax (tax on flow through business profits only), in the order stated. Excess credit may be carried forward for up to 12 years. 2. CORPORATE HEADQUARTERS CREDIT A credit is available to a company that relocates its corporate headquarters to this state. If at least 15 new jobs, but less than 20, are created, the allowable credit is 10 percent of adjusted qualified investment. In general, the credit may offset tax liabilities in the same manner as for the general Economic Opportunity Credit with the exception of a slightly different application against Corporation Net Income Tax. At a minimum, the Corporate Headquarters Credit may be used to offset the sum of 100% of tax on allocated corporate net income and 80% of the tax attributable to qualified investment on apportioned corporate net income.
Eligibility Requirements: 1.Must be a qualified business making a qualified investment in a new or expanded business facility resulting in at least 20 new jobs. All applications must be timely filed. 2. Must be a qualified business relocating its corporate headquarters to the state of West Virginia resulting in 15 - 19 new jobs. All applications must be timely filed.
Geographic Restrictions: Statewide
Granting Authority: State of West Virginia


The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com

Impotant Legal Information
Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives.