Schedule Wv/mitc-1 - Credit For Manufacturing Investment (For Periods After January 1, 2015)

ADVERTISEMENT

Credit for Manufacturing
West Virginia
WV/MITC-1
Investment
State Tax
Rev. 10/15
(for periods AFTER January 1, 2015)
Department
Business
ID
Name
Number
Tax period
BEgInnIng
EnDIng
MM
DD
YYYY
MM
DD
YYYY
CoMpuTATIon oF ElIgIBlE InVEsTMEnT
(Column 3)
(Column 1)
(Column 2)
Allowable Cost
net Cost
percentage
Investment
1. Expansion or Revitalization property with useful life of 4 years or more but
$
$
less than 6 years............................................................................................
33 ⅓%
2. Expansion or Revitalization property with useful life of 6 years or more but
$
$
less than 8 years............................................................................................
66 ⅔%
$
$
3. Expansion or Revitalization property with useful life of 8 years or more.......
100%
$
4. Total Eligible Expansion or Revitalization Investment....................................................................................................
$
5. Total Potential Manufacturing Investment Tax Credit (5% of Line 4).............................................................................
$
6. Available Annual Manufacturing Investment Tax Credit (10% of Line 5) (Forfeited if not used)....................................
7. Available Annual Manufacturing Investment Tax Credit* from prior years (incomplete information will result in the disallowance of the credit)
Reference period
(# of years prior to
current tax period)
Tax Period Ending
Original Available Annual Credit
Adjustments**
Net Available Annual Credit
9
8
7
6
5
4
3
2
1
Total
*Entitlement to Manufacturing Investment Tax Credit was first available for the investment placed in service or use on or after January 1, 2003.
**Adjustments, including the disposal of property or machinery before the originally stated useful life, may also result in the recapture of credit previously
claimed. See the instructions for the credit recapture provisions.
$
8. Total available Annual Manufacturing Investment Tax Credit (Line 6 plus Line 7)............................................................
$
9. Credit Offset Factor (If the current tax year began on or after January 1, 2009 then enter 0.6, otherwise enter 0.5)......
$
10. a) Total Severance Tax...................................................................................................................................................
$
b) Amount of Other Credits Used to Offset Severance Tax............................................................................................
$
c) Adjusted Severance Tax (Subtract the amount on line 10b from the amount on line 10a and enter here).................
d) Severance Tax Manufacturing Investment Tax Credit Offset Limit (Multiply the amount on line 10a by the value on
$
line 9)................................................................................................................................................................................
$
e) Amount of WV Code §11-13D Credits Used to Offset Severance Tax........................................................................
f) Severance Tax Limit of Manufacturing Investment Tax Credit (Subtract the amount on line 10e from the amount on
$
line 10d. Enter zero if the amount on line 10e is greater than the amount on line 10d)...............................................
g) Severance Tax Manufacturing Investment Tax Credit (Enter the lesser of the values on lines 8, 10c and line 10f
$
here and on the tax return)...........................................................................................................................................
Schedule WV/MITC-1
Page 1 of 3
Rev. 10/15

ADVERTISEMENT

00 votes

Related Articles

Top 20 Happy Easter Cards And Gift Tags To Download For Free
Top Ten Easter Arts And Crafts Activities For Your Kids
Free Easter Coloring Pages And Easter Printables For Your Kids

Related forms

Schedule Wv/mitc-1 - Credit For Manufacturing Investment Schedule Wv/mitc-1 - Credit For Manufacturing Investment Financial
Schedule Wv/aif-1 - Credit Fr Aerospace Industrial Facility Investments - 2000 Schedule Wv/aif-1 - Credit Fr Aerospace Industrial Facility Investments - 2000 Financial
Schedule Wv/hbgitc-1 - High-growth Business Investment Tax Credit Schedule Wv/hbgitc-1 - High-growth Business Investment Tax Credit Financial
Schedule Wv/srdtc-1 - Strategic Research And Development Tax Credit/itemization Of Property Purchased For Strategic Research And Development Tax Credit Schedule Wv/srdtc-1 - Strategic Research And Development Tax Credit/itemization Of Property Purchased For Strategic Research And Development Tax Credit Financial
Schedule Wv/srdtc-1 - Strategic Research And Development Tax Credit Schedule Wv/srdtc-1 - Strategic Research And Development Tax Credit Financial
Schedule Wv/fotc-1 - Financial Organization Transition Credit Schedule Wv/fotc-1 - Financial Organization Transition Credit Financial
Schedule Wv/fogw-1 - Funancial Organization Goodwill Credit Schedule Wv/fogw-1 - Funancial Organization Goodwill Credit Financial
Schedule Wv/ag-1 - West Virginia Environmental Agricultural Equipment Tax Credit Information And Instructions Schedule Wv/ag-1 - West Virginia Environmental Agricultural Equipment Tax Credit Information And Instructions Financial
Schedule Fit-167 - Vermont Credit For Tax Paid To Other State Or Canadian Province For Fiduciaries - 2015 Schedule Fit-167 - Vermont Credit For Tax Paid To Other State Or Canadian Province For Fiduciaries - 2015 Financial
Schedule In-117 - Vermont Credit For Income Tax Paid To Other State Or Canadian Province - 2015 Schedule In-117 - Vermont Credit For Income Tax Paid To Other State Or Canadian Province - 2015 Financial

Related Categories

Parent category: Financial
Download
Go
Page of 3