Schedule Bcs-Pit - Business Investment And Jobs Expansion Credit Claims Against Personal Income Tax Page 4

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If West Virginia Income Tax is greater than $1,575 and less than or equal to $2,775, then ETI is
$40,000 plus the quantity obtained by subtracting $1,575 from the West Virginia Income Tax and
dividing this result by 0.0600;
If West Virginia Income Tax is greater than $2,775, then ETI is $60,000 plus the quantity obtained by
subtracting $2,775 from West Virginia Income Tax and dividing this result by 0.0650.
2.
For taxpayers with filing status 2 (i.e., married filing separately):
If West Virginia Income Tax is zero, then ETI is zero.
If West Virginia Income Tax is greater than zero and less than or equal to $150, the ETI is West
Virginia Income Tax divided by 0.3000;
If West Virginia Income Tax is greater than $150 and less than or equal to $450, then ETI is $5,000
plus the quantity obtained by subtracting $150 from the West Virginia Income Tax and dividing this
result by 0.4000;
If West Virginia Income Tax is greater than $450 and less than or equal to $787.50, then ETI is
$12,500 plus the quantity obtained by subtracting $450 from the West Virginia Income Tax and divid-
ing this result by 0.0450;
If West Virginia Income Tax is greater than $787.50 and less than or equal to $1,387.50, then ETI is
$20,000 plus the quantity obtained by subtracting $787.50 from the West Virginia Income Tax and
dividing this result by 0.0600;
If West Virginia Income Tax is greater than $1,387.50, then ETI is $30,000 plus the quantity obtained
by subtracting $1,387.50 from West Virginia Income Tax and dividing this result by 0.0650.
B.
Calculate equivalent exemption value (EEV).
The equivalent exemption value is determined by multiplying the reported exemption value by the reported
income percentage.
C.
Equivalent West Virginia Adjusted Gross Income.
The Equivalent West Virginia Adjusted Gross Income is determined by adding the Equivalent Taxable In-
come (ETI) and the Equivalent Exemption Value (EEV).
Line 23. Only taxpayers claiming this credit from a pass-through entity subject to West Virginia Severance Tax are eligible
for the Free-Up credit component.
Line 25. Transfer this figure to the appropriate line on your Personal Income Tax return.
Information regarding this business credit schedule may be obtained by contacting the:
West Virginia Tax Commission
Taxpayer Services Division
P. O. Box 3784
Charleston, West Virginia 25337-3784
Telephone: (304) 558-3333 or
1-800-WVA-TAXS (1-800-982-8297) the toll free number within West Virginia
A TDD Service is available for the hearing impaired by calling 1-800-2TAXTDD (1-800-282-9833)
To order forms or publications please call the automated information system at:
(304) 344-2068 or 1-800-422-2075 our toll free number within West Virginia
Internet Address:
-4-

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