Form Wv/nipa-2 - West Virginia Neighborhood Investment Program Credit Schedule Page 4

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West Virginia
West Virginia
West Virginia
West Virginia
West Virginia
WV/NIPA-2
Neighborhood Investment Program Credit Schedule
Neighborhood Investment Program Credit Schedule
Neighborhood Investment Program Credit Schedule
Neighborhood Investment Program Credit Schedule
Neighborhood Investment Program Credit Schedule
(Rev. 09/11)
Name
Tax Identification or Social Security Number
Tax Period
To
COMPUTATION OF ELIGIBLE CREDIT
COMPUTATION OF ELIGIBLE CREDIT
COMPUTATION OF ELIGIBLE CREDIT
COMPUTATION OF ELIGIBLE CREDIT
COMPUTATION OF ELIGIBLE CREDIT
1.
a)
Project Number WV-NIPA- ______.________ .................................................................................................. $
b)
Project Number WV-NIPA- ______.________ .................................................................................................. $
c)
Project Number WV-NIPA- ______.________ .................................................................................................. $
2.
Amount Carried Forward From Schedule A, Column 3 .............................................................................................
3.
Total Neighborhood Investment Program Credit (Add Lines 1 and 2) ..................................................................... $
4. Total Allowable Credit (Lesser of Line 3 or $100,000) ............................................................................................. $
5.
a)
Total Business Franchise Tax .......................................................................................................... $
b)
Amount of Subsidiary Credit Claimed on Form WV/BFT-120 ...................... $
c)
Amount of Business and Occupation Tax Credit
Claimed on Form WV/BFT-120 ....................................................................... $
d)
Amount of Financial Organization Property Tax Credit
Claimed on Form WV/BFT-120 ....................................................................... $
e)
Total of Lines 5b Through 5d ............................................................................................................. $
f)
Net Business Franchise Tax (Line 5a Minus Line 5e) ..................................................................... $
g)
Neighborhood Investment Program Credit (50 percent of Line 5f) ................................................ $
6.
a)
Total Corporate Net Income Tax ....................................................................................................... $
b)
Credit Limit (50% of Line 6a) .............................................................................................................. $
c)
Remaining NIPA Credit (Line 4 Minus Line 5g) ................................................................................. $
d)
Neighborhood Investment Program Credit (Smaller of Line 6b or Line 6c) ................................... $
7.
a)
Total Fiduciary Income Tax ............................................................................................................... $
b)
Credit Limit (50% of Line 7a) .............................................................................................................. $
c)
Remaining NIPA Credit (Line 4 Minus Lines 5g and 6d) .................................................................. $
d)
Trust's or Estate's Share of Profit or Loss (State as a Decimal) ................................................... $
e)
Multiply Line 7c Times Line 7d .......................................................................................................... $
f)
Neighborhood Investment Program Credit (Smaller of Line 7b or Line 7e) ................................... $
8.
a)
Total West Virginia Personal Income Tax (From Form IT-140) ....................................................... $
b)
Credit Limit (50% of Line 8a) .............................................................................................................. $
c)
Remaining NIPA Credit: ( If Partner,S Corporation Shareholder, or
Beneficiary, Enter Line 4 Minus Line 5g) .......................................................................................... $
d)
Enter Share of Profit or Loss (State as a Decimal; If Partner, S Corporation Shareholder, or
Beneficiary, Enter Share of Profit or Loss) ..................................................................................... $
e)
Multiply Line 8c Times Line 8d .......................................................................................................... $
f)
Neighborhood Investment Program Credit (Smaller of Line 8b or Line 8e) .................................. $
9.
a)
Total West Virginia Personal Income Tax (From Form IT-140) ....................................................... $
b)
Credit limit (50% of Line 9a) ............................................................................................................... $
c)
Enter the amount from Line 4 ........................................................................................................... $
d)
Enter the smaller of Line 9b or Line 9c ............................................................................................ $
- 4 -

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