Form Wv/bcs-A - Application For West Virginia Business Investment And Jobs Expansion Tax Credit For Investments Placed In Service On Or After January 1, 1990 Page 2
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4investment placed into service or use in the second column and the dollar amount of qualified investment placed into service
or use in the third column. Qualified Investment is determined according to the following useful life (straight line depreciation):
Useful Life
Useful Life
At Least
At Least
But Less Than
But Less Than
Percent Qualified
Percent Qualified
0
4 years
0
4
6 years
33-1/3
6
8 years
66-2/3
8 or more years
100
2b. Enter the location(s) of the qualified investment property (i.e. Main Street, Weston, or 12 miles north of Pipestem at the
intersection of State Route 3 and State Route 20).
2c. Provide a general discription of the qualified investment property in the space provided (i. e. $100,000 to be invested in
buildings, $500,000 to be invested in land, etc.)
Employment:
Employment:
3.
a)
Enter your total West Virginia payroll and number of jobs attributed to that payroll for the twelve month period ending
on the day prior to the day of the first placement of qualified investment subject to Super Credit into service or use.
b)
Enter your total West Virginia payroll and number of jobs attributed to that payroll for the tax year to which this
application relates.
c)
Enter your total projected West Virginia payroll and number of jobs attributed to that payroll for the third tax year after
the qualified investment is first placed into service or use. For example, if you first plan to place investment into service
or use in 1996 then, you would use your projected 1998 payroll to complete this question. (Note that the information
in 3(b) and 3(c) should be identical if this year is your third tax year.)
d)
Enter the applicable jobs percentage you wish to claim (i.e. 50% if you expect to create at least 50 new jobs) and your
projected number of new jobs created up through the third tax year corresponding to the increase in payroll from 3(a)
New Jobs Percentage Table
New Jobs Percentage Table
Number of New Jobs
Number of New Jobs
New Jobs Percentage
New Jobs Percentage
(Corporate HQ relocation only)
10%
15 to 49
50%
50 to 279
60%
280 to 519
520 to 759
70%
760 to 999
80%
90%
1,000 or more
to 3(c). Note that if your business is a member of a controlled group, then the controlled group's West Virginia
employment must show a net increase equal to or greater than the necessary minimum new jobs threshold claimed by
the member for credit to be available.
Small business taxpayers: 30% for the first ten jobs plus 1/2 of 1% for each job over 10.
4.
Taxpayers have an option of beginning their utilization of tax credits with the year investment is first placed into service
or with the succeeding taxable year. Check yes or no depending upon which option you choose. Once an election is made
either way it becomes irrevocable.
5.
(For Multiple Party Projects Only) Enter the names and federal identification numbers for all other project participants along
with their tax year end dates (i.e. 12/31) and their credit allocation percentages and/or allocated credit amounts (i.e. 15% or
$100,000).
Within a reasonable time after receipt of this Application the Tax Commissioner or his designee will acknowledge, in writing, receipt
of this application and authorize the Applicant to begin claiming Super Credit benefits. Such acknowledgement and authorization will
not bar or otherwise prevent the Tax Commissioner from auditing or examining Applicant’s books and records for compliance with the
Super Tax Credit law and regulations.
This application must be signed by an officer of the company (primary project participant) to be valid.
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