INCENTIVE DESCRIPTION

State: WV
Incentive Type: Sales and Use Tax Incentives
Incentive Title: Sales Tax Exemptions
Description: 1. STRATEGIC R&D CREDIT: Businesses engaged in qualified research and development activities may qualify for a credit equal to the higher of 3% of all qualified expenses and qualified investment, or 10% of the excess of qualified expenses and qualified investment for the taxable year over the average for a base period. Eligible investments include depreciable property for qualified research projects and in qualified research expenses; land is excluded. The credit may offset up to 100% of the annual liability for Business Franchise Tax, Corporation Net 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 10 years. 2. MANUFACTURING SALES TAX EXEMPTION: Materials and equipment purchased for direct use in manufacturing are exempt from the 6% state sales and use tax.
Eligibility Requirements: 1. Businesses must be engaged in qualified research and development activities. Must obtain certification of the R&D project.
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.