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INCENTIVE DESCRIPTION
| State: | WV |
| Incentive Type: | Income/Franchise Tax Incentives and Credits |
| Incentive Title: | R&D Credits |
| Description: | STRATEGIC RESEARCH AND DEVELOPMENT TAX CREDIT A tax credit equal to the greater of 3% of qualified expenses or 10% of the excess of qualified expenses may be used to offset up to 100% of the tax liability for business franchise tax, corporate net income tax, and personal income tax (tax on flow through business profits only). Any excess credit may be carried forward for 10 years. Eligible research and development expenses include 100% of in-house research expenses and 65% of contract research expenses. |
| Eligibility Requirements: | Must be a qualifying business having qualified research and development activities. Must complete and file required applications and schedules. |
| 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. |
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