Form Wv/bcs-1 - West Virginia Business Investment And Jobs Expansion Tax Credit Or Corporate Headquarters Relocation Credit Page 16
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30amount on Line a or b whichever is applicable will be used in Part IV to reduce up to eighty percent (80%)
of the tax liability, for certain taxes, that is attributable to and the direct result of the qualified investment.
Line c.
After completing Part IV and Part V, enter any rebate amount remaining to be carried forward from the
respective years. Rebate credit carried forward should be taken beginning with the earliest credit year.
Line d.
Enter the amount of deferred tax credit from Tax Credit Computation Schedule, Line g, Column 9 for
each applicable tax period.
Section 2
Line 1.
Enter the amount from Part VII, Section 1 Line a or Line b (4).
Line 2.
Enter the amount from Part IV Line g, Column 5.
Line 3.
Enter the amount from Part V, Section 2, Line e.
Line 4.
Enter the amount from Part V, Section 2, Line f.
Line 5.
Enter the amount from Part IV, Line g, Column 7.
Line 6.
Enter the sum of Lines 3 and 4, minus Line 5.
Line 7.
Enter the amount from Tax Credit Computation Schedule, Part IV, Line g, Column 9. The deferred
credit(s) may offset up to 100% of tax liability directly attributed to the qualified investment and new jobs
in the tenth, eleventh, and twelfth tax years subsequent to the year such investment is placed into service
or use.
Line 8.
Enter the amount of deferred credit applied. Provide detailed information for taxable year(s) and amounts
that gives rise to the deferred credit being used in the tenth, eleventh, and twelfth tax years subsequent
to the year such investment is placed into service or use.
Line 9.
Enter the amount of available free-up credit, Part VI, Line 9.
Line 10.
Enter the amount of available free-up credit applied for the current taxable year from Part IV, Column 12,
Line g.
PART VIII
Column 1.
Enter the year for which credit was deferred or deferment credit used.
Column 2.
Enter historical deferred credit attributable to investment made in the first year of the project. Refer to
Part IV or Part IV-B filed in previous years or to Part VII.
Column 3.
For multiple-year projects, enter historical deferred credit attributable to investment made in the second
year of the project. Refer to Part IV or Part IV-B filed in previous years or to Part VII. Enter an amount
only if the credit attributable to first year investment was completely exhausted.
Column 4.
For multiple-year projects, enter historical deferred credit attributable to investment made in the third
year of the project. Refer to Part IV or Part IV-B filed in previous years or to Part VII. Enter an amount
only if the credit attributable to first and second year investment was completely exhausted.
Column 5.
Sum the entries in Column 2, Column 3 and Column 4 and enter the result.
Column 6.
Enter the amount of Deferred Credit applied in previous years. Refer to Part IV or Part IV-B filed in
previous years or to Part VII.
Column 7.
Enter the amount of Deferred Credit applied in current year. Refer to Part IV-B, Line 15, Column g.
Column 8.
Subtract the amounts in Column 6 and Column 7 from Column 5.
PART IX
This part of the credit schedule must be completed, all questions answered and information provided. Failure
to do so can result in a delay or disallowance of the credit claimed on the tax returns.
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