West Virginia § 11-13G-5 Application of credit

West Virginia Statutes

§ 11-13G-5 — Application of credit

West Virginia § 11-13G-5

Ch. 11TAXATION

Art. 13GTAX CREDIT FOR REDUCING TELEPHONE UTILITY RATES FOR CERTAIN LOW-INCOME RESIDENTIAL CUSTOMERS

This text of West Virginia § 11-13G-5 (Application of credit) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 11-13G-5 (2026).

Text

(a)Any unused portion of a credit allowed under this article may be taken as a credit against corporation net income taxes due for the taxable year as provided in section eleven-a, article twenty-four of this chapter.

(b)If any portion of the amount certified as the eligible taxpayer's revenue deficiency by the Public Service Commission is not recovered under subsection (a) hereof, the unrecovered amount may be carried over to the subsequent year as a tax credit as allowed by section three of this article and shall be applied as a credit before any other credits for that year are applied.

(c)In no event shall an eligible taxpayer be allowed to recover more than one hundred percent of its certified revenue deficiency.

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

(a) Any unused portion of a credit allowed under this article may be taken as a credit against corporation net income taxes due for the taxable year as provided in section eleven-a, article twenty-four of this chapter.

(b) If any portion of the amount certified as the eligible taxpayer's revenue deficiency by the Public Service Commission is not recovered under subsection (a) hereof, the unrecovered amount may be carried over to the subsequent year as a tax credit as allowed by section three of this article and shall be applied as a credit before any other credits for that year are applied.

(c) In no event shall an eligible taxpayer be allowed to recover more than one hundred percent of its certified revenue deficiency.