West Virginia § 11-13E-3a Application of credit after June 30, 1987

West Virginia Statutes

§ 11-13E-3a — Application of credit after June 30, 1987

West Virginia·Ch. 11 TAXATION·Art. 13E BUSINESS AND OCCUPATION TAX CREDIT FOR COAL LOADING FACILITIES

On and after July 1, 1987, the credits allowed under section three shall be applied to and reduce the taxes imposed by articles thirteen, thirteen-a, fifteen, fifteen-a and twenty-three of this chapter: Provided, That this credit shall not reduce the sum of the net tax liability of the taxpayer under articles thirteen, thirteen-a and twenty-three of this chapter, or under articles fifteen and fifteen-a of this chapter on purchases directly used or consumed in taxpayer's qualified investment activity, for the taxable year below fifty percent of the amount thereof, determined before application of the credits allowed by this article and article thirteen-c or thirteen-d, or both, of this chapter.

Free access — add to your briefcase to read the full text and ask questions with AI

On and after July 1, 1987, the credits allowed under section three shall be applied to and reduce the taxes imposed by articles thirteen, thirteen-a, fifteen, fifteen-a and twenty-three of this chapter: Provided, That this credit shall not reduce the sum of the net tax liability of the taxpayer under articles thirteen, thirteen-a and twenty-three of this chapter, or under articles fifteen and fifteen-a of this chapter on purchases directly used or consumed in taxpayer's qualified investment activity, for the taxable year below fifty percent of the amount thereof, determined before application of the credits allowed by this article and article thirteen-c or thirteen-d, or both, of this chapter.

West Virginia § 11-13E-3a (Application of credit after June 30, 1987) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.