Schedule Bcs-Pit - Business Investment And Jobs Expansion Credit Claims Against Personal Income Tax Page 5
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5by subtracting $300 from the West Virginia
$450 and less than or equal to $787.50, then
Income Tax and dividing this result by 0.0400;
ETI is $12,500 plus the quantity obtained
by subtracting $450 from the West Virginia
If West Virginia Income Tax is greater than
Income Tax and dividing this result by 0.0450;
$900 and less than or equal to $1,575, then
ETI is $25,000 plus the quantity obtained
If West Virginia Income Tax is greater than
by subtracting $900 from the West Virginia
$787.50 and less than or equal to $1,387.50,
Income Tax and dividing this result by 0.0450;
then ETI is $20,000 plus the quantity obtained
by subtracting $787.50 from the West Virginia
If West Virginia Income Tax is greater than
Income Tax and dividing this result by 0.0600;
$1,575 and less than or equal to $2,775, then
ETI is $40,000 plus the quantity obtained by
If West Virginia Income Tax is greater than
subtracting $1,575 from the West Virginia
$1,387.50, then ETI is $30,000 plus the quantity
Income Tax and dividing this result by 0.0600;
obtained by subtracting $1,387.50 from West
Virginia Income Tax and dividing this result by
If West Virginia Income Tax is greater than
0.0650.
$2,775, then ETI is $60,000 plus the quantity
obtained by subtracting $2,775 from West
B. Calculate equivalent exemption value (EEV).
Virginia Income Tax and dividing this result by
The equivalent exemption value is determined by
0.0650.
multiplying the reported exemption value by the
2.
For taxpayers with filing status 2 (i.e., married
reported income percentage.
filing separately):
C. Equivalent West Virginia Adjusted Gross Income.
If West Virginia Income Tax is zero, then ETI
The Equivalent West Virginia Adjusted Gross
is zero.
Income is determined as the minimum of
If West Virginia Income Tax is greater than zero
Total West Virginia Income and the sum of
and less than or equal to $150, the ETI is West
the Equivalent Taxable Income (ETI) and the
Virginia Income Tax divided by 0.0300;
Equivalent Exemption Value (EEV).
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If West Virginia Income Tax is greater than
Only taxpayers claiming this credit from a pass-
$150 and less than or equal to $450, then ETI is
through entity subject to West Virginia Severance
$5,000 plus the quantity obtained by subtracting
Tax are eligible for the Free-Up credit component.
$150 from the West Virginia Income Tax and
dividing this result by 0.0400;
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Transfer the appropriate value of this line to the
appropriate line on the Personal Income Tax return.
If West Virginia Income Tax is greater than
Information regarding this business credit schedule may be obtained by contacting the:
West Virginia State Tax Department
Compliance and Taxpayer Services Division
PO Box 3784
Charleston, WV 25337-3784
Telephone: (304) 558-3333 or
Toll free: 1-800-WVA TAXS (1-800-982-8297)
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:
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Schedule BCS-PIT
Business Investment and Jobs Expansion Credit Claims Against Personal Income Tax
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