Tax Credit Computation Schedule

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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

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