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Schedule Eotc-Pit - West Virginia Economic Opportunity Credit Claims Against Personal Income Tax Page 3

If West Virginia Income Tax is greater than $787.50

The Equivalent West Virginia Adjusted Gross Income

and less than or equal to $1,387.50, then ETI is $20,000

is determined as the minimum of Total West Virginia

plus the quantity obtained by subtracting $787.50 from

Income (from Form IT-140NR/PY) and the sum

the West Virginia Income Tax and dividing this result

of the Equivalent Taxable Income (ETI) and the

by 0.0600;

Equivalent Exemption Value (EEV).

If West Virginia Income Tax is greater than $1,387.50,

then ETI is $30,000 plus the quantity obtained by

Enter 0.80, unless the median salary of the new

subtracting $1,387.50 from West Virginia Income Tax

jobs is higher than the Statewide average nonfarm

and dividing this result by 0.0650.

payroll wage in which case enter 1.00. Entry of 1.00 must be

substantiated by the attachment of the WV/EOTC-1 filed by

B. Calculate equivalent exemption value (EEV).

the pass-through entity.

The equivalent exemption value is determined by

multiplying the reported exemption value by the reported

Transfer the appropriate figure to the appropriate

income percentage.

line on the Personal Income Tax return.

C. Equivalent West Virginia Adjusted Gross Income.

Information regarding this business credit schedule may be obtained by contacting the:

West Virginia State Tax Department

Compliance and Taxpayer Services Division

P.O. Box 3784

Charleston, WV 25337-3784

Telephone: (304) 558-3333 or

Toll Free: 1-800-WVA-TAXS (1-800-982-8297)

TDD Service for the hearing impaired: 1-800-2TAXTDD (1-800-282-9833)

To order forms or publications call: (304) 344-2068 or

Toll free within West Virginia: 1-800-422-2075

Internet Address:

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Schedule EOTC-PIT



Economic Opportunity Tax Credit Claims Against Personal Income Tax

Schedule Eotc-Pit - West Virginia Economic Opportunity Credit Claims Against Personal Income Tax Page 3