Form Wv/wp-1 - New Value-Added Wood Manufacturing Operations Tax Credit Schedule (Consumer-Ready Wood Products) Page 2
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410. Total Remaining Credit (Line 3 minus Line 9) .............................................................................
11. Total Corporation Net Income Tax liability after all other tax credits ............................................
12. Total Eligible Corporation Net Income Tax Liability (Line 6 times Line 11) ...................................
13. Total Consumer-Ready Wood Products Credit (Lesser of Line 10 or Line 12) .............................
14. Federal Adjusted Gross Income attributable to New Consumer-Ready Wood Products ..............
15. Federal Adjusted Gross Income .................................................................................................
16. Eligible income ratio (Line 14 divided by Line 15. State as a decimal. Not more than 1.0) ..........
17. Total Personal Income Tax liability after all other tax credits .......................................................
18. Total Eligible Personal Income Tax Liability (Line 16 times Line 17) ...........................................
19. Total Consumer-Ready Wood Products Credit (Lesser of Line 3 or Line 18) ...............................
20. Distributive share from pass-through entity .................................................................................
21. Total West Virginia income of pass-through entity from
New Consumer-Ready Wood Products ......................................................................................
22. Total income of pass-through entity ............................................................................................
23. Eligible pass-through entity income ratio (Line 21 divided by Line 22.
State as a decimal. Not more than 1.0) .....................................................................................
24. Tentative distributive share eligible for credit (Line 20 times by Line 23) ......................................
25. Total distributive income from pass-through entity reported on your tax return ............................
26. Federal AGI or Federal taxable income, as applicable ................................................................
27. Distributive eligible income ratio (Line 25 divided by Line 26.
State as a decimal. Not more than 1.0) .....................................................................................
28. Reported distributive share eligible for credit (Line 24 times Line 27) ...........................................
29. Eligible income ratio (Line 28 divided by Line 26. State as a decimal. Not more than 1.0) ..........
30. West Virginia income tax liability ...............................................................................................
31. West Virginia income tax eligible for credit (Line 29 times Line 30) ............................................
32. Other tax credits claimed against liability on return ....................................................................
33. Adjusted West Virginia income tax liability (Line 31 minus Line 32.
If zero or less, enter zero) ..........................................................................................................
34. Total Remaining Credit from pass-through entity .........................................................................
35. Percentage of Ownership of Pass-through Entity (state as a decimal) ........................................
36. Distributee share of remaining credit (Line 34 times Line 35) ......................................................
37. Total Consumer-Ready Wood Products Credit (Lesser of Line 33 or Line 36) .............................
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