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4, line c.

Line d.

Enter the sum of Column 4, lines a, b, and c.

Section 2 - Rebate to be applied in Current Tax Year

Line a.

Enter the amount of the annual credit allowance from Part VII, Section 1, line a (1), or line b (4), whichever is applicable.

Line b.

Enter the amount of credit allowance applied from Part IV, line g, Column 5.

Line c.

Subtract the amount on line b from the amount on line a. This is the amount of the annual credit allowance available for rebate.

Line d.

Maximum rebate allowable current year. (From Part V, Section 1, line d).

Line e.

Enter the lesser of line c or line d. If less than zero (0), enter zero (0).

Line f.

Maximum rebate allowable from prior years. (From Part VII, Section 1, line c (16).

Line g.

Add the amount on line e and the amount on line f. This amount may be used to offset tax liability in Part IV, Column 6.

Line h.

Enter the total amount of applied rebate from Part IV, line g, Column 7.

Line i.

Subtract line h from line g. (This number may never be less than zero). Also, enter this amount in Part VII, Section 1, Line c for

the applicable tax year. This number represents the total amount of rebate available to be carried forward to future years.

The amount of applied rebate for the current taxable year is the amount of rebate carried forward from prior years plus

the lesser of:

1. The unused portion of the annual credit allowance (Part V, Section 2, line c); or

2. The maximum rebate allowable (Part V, Section 2, line d).

PART VI - FREE-UP CREDIT CALCULATION SCHEDULE

(For Taxpayers subject to the Minimum Severance Tax on Coal)

Line 1.

Enter total tons produced for sale on or before May 31, 1993 in Column 1 and total tons produced for sale on or after June 1, 1993

in Column 2. Add Columns 1 and 2 and enter the total tons sold in Column 3.

Line 2.

Multiply line 1, Column 1, by $0.50 and line 1, Column 2 by $0.75. Add Columns 1 and 2 and enter in Column 3.

Line 3.

Enter the total from Schedule A, line 1, WV/SEV 401-C, Coal Severance Tax Return.

Line 4.

Enter the total from Schedule A, line 2a plus line 2f. Do not claim Industrial Expansion and Revitalization, Research and

Development, Coal Loading Facility and/or Capital Company Credits.

Line 5.

Subtract line 4 from line 3.

Line 6.

Multiply line 5 by 0.93.

Line 7.

Subtract the amount in Column 3, line 6, from the amount in Column 3, line 2, and enter the difference. (If less than zero, enter

zero).

Line 8.

Enter the amount on line 2, Column 2 divided by the number 3.

Line 9.

Enter in Column 3 the lesser of lines 7 or 8. Enter this amount on applicable line, Part IV, Column 12 of Tax Credit Computation

Schedule.

PART VII - RECAP OF ANNUAL CREDIT APPLICATION

Section 1

Line a.

Enter the annual credit allowance for Business Investment and Job Expansion Credit and Corporate Headquarters Relocation

and Business Investment and Jobs Expansion Credit for qualified investments for which the cost is not quantifiable. Enter on

line a the sum of Part III, Section 1, line 5 and Section 2, line 7.

Line a (1).

Enter your first year of credit utilization on line a (1). If you have a multiple year project certification, skip lines a and a (1) and

complete lines b (1) through line b (4).

Line b (1).

If you received a multiple year project certification then enter your annual credit allowance for investments placed in service

during the first taxable year. Include any annual credit allowance for which a yearly computation was required. Also enter

Wv/bcs-Small - West Virginia Small Business Investment And Jobs Expansion Tax Credit Page 12

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