Schedule
ECONOMIC OPPORTUNITY CREDIT
EOTC-PIT
CLAIMS AGAINST PERSONAL INCOME TAX
Rev. 08-12
Tax Period
From:
To:
MM
DD
YYYY
MM
DD
YYYY
Taxpayer’s first name
Last name
Your social security number
—
—
Spouse’s first name (if joint return)
Spouse’s last name (only if different from name
given above)
Spouse’s Social Security Number
Present home address
—
—
City
State
Zip code
Your telephone number
P
I — P
-t
E
C
C
art
ass
hrough
ntIty
rEdIt
alCulatIon
1. a. Pass-through entity name...........................................................................................................................................
b. Pass-through entity FEIN............................................................................................................................................
/
/
c. Pass-through entity tax year (enter ending month, day, and year)..............................................................................
2. West Virginia apportionment factor of the pass-through entity (express as a decimal to six places; from Form SPF-100)................................
3. Project payroll factor expressed as decimal to six places (Form WV/EOTC-1, 5b)............................................................................................
4. Total credit available this year (Form WV/EOTC-1, 8)........................................................................................................................................
Amount of Credit Applied
5. a. Business and Occupation Tax (Form WV/EOTC-1, 7B)..............................................................................................
b. Business Franchise Tax (Form WV/EOTC-1, 7B).......................................................................................................
c. Corporate Net Income Tax (Form WV/EOTC-1, 7B)...................................................................................................
6. Amount of credit applied total (sum of lines 5a through 5c)...............................................................................................................................
7. Amount of credit remaining (Line 4 less line 6)..................................................................................................................................................
P
II — C
C
art
laImIng thE
rEdIt
1. Shareholders Ownership Percentage Expressed as Decimal to six places (from Federal Form 1120S, Schedule K-1)....................................
2. Shareholders Ordinary Income From the Pass-Through Entity (from Federal Form 1120S, Schedule K-1)......................................................
3. West Virginia Apportioned Shareholders Ordinary Income (Part I, line 2 times Part II, line 2)............................................................................
4. Credit available to shareholder (Part I, line 7 times line 1)..................................................................................................................................
5. West Virginia Personal Income Tax filer (check one):
Resident
Non-resident/Part-Year resident
Other.........
6. West Virginia Income for credit purposes (IT-140 filers use West Virginia adjusted gross income; other filers must calculate an equivalent
West Virginia gross income following the enclosed instructions).........................................................................................................................
7. Qualified income fraction (express as decimal to six places; not greater than 1.0; line 3 divided by line 6).......................................................
8. West Virginia Income Tax....................................................................................................................................................................................
9. Tax attributable to qualified business (Line 8 times line 7)..................................................................................................................................
10. Payroll factor (Part I, line 3)................................................................................................................................................................................
11. Tax attributable to investment (line 9 times line 10)...........................................................................................................................................
12. Personal Income Tax offset factor (enter 0.80 unless new jobs have high median value [see instructions for additional information and
reporting requirements])...................................................................................................................................................................................
13. Tax subject to credit offset (line 11 times line 12).............................................................................................................................................
14. Amount of tax credit applied (lesser of Part II, line 4 or line 13)........................................................................................................................