Tax Credit Computation Schedule

2 ) 4 6 

1 8

Name ____________________________________________

Identification Number ______________________________ Taxable year beginning ______________________, Ending _____________________

TAX CREDIT COMPUTATION SCHEDULE

=

x

Type

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

(10)

(11)

(12)

(13)

of

Liability

Payrol

Tax

Tax

Amount of

Tax

Amount of

Col. 5 +

Deferred

Col. 8 -

Tax

Free-up

Total

Tax

Factor

Attributable

Subject

Credit

Subject

Rebate

Col.7

Credit

Col. 9

Eligible

Credit

Credits

To

To Credit

Applied

To

Applied

(Col. 8 x

for

Applied

(Col. 10

Investment

Rebate

20%)

Free-up

+ Col.

(Col. 3 -

Credit

12)

Col.4)

(Col. 3 -

Col. 10)

(a)

Busine

&

.80

Occup

*

Tax

(b)

Severa

.80

Tax

(c)

Tele-

.80

commu

Tax

(d)

Busine

.80

**

Franchi

Tax

(e) (1)

Corpor

.80

Net

Income

Tax

(2)

.80

Apporti

(3)

1.0

Allocat

(f)

Person

Income

Tax on

80

Net

* Credit against Severance Tax may only be claimed if the qualified investment was placed into service or use prior to January 1, 1990 or if the taxpayer qualified under one of the transition rules of W. Va. Code § 11-13C-14 and filed a WV/BCS-SEV on or before July

only

2, 1990. ** If you are claiming Business Investment and Jobs Expansion Credit, enter your total Corporation Net Income Tax liability on line (e) 1. Make no entries in Lines (e) 2 and 3 . If you are claiming Corporate Headquarters Relocation Credit

, enter

NOTE

your Corporation Net Income Tax liability on apportioned income on line (e) 2 and on allocated income on line (e) 3, and make no entries on line (e)1 . (

: This allocation and apportionment of income is required even if the corporation is taxable only in this

State).

5