(a) General rule. -- For purposes of the tax imposed by this article, a taxpayer's taxable year shall be the same as the taxpayer's taxable year for federal income tax purposes.
(b) Change of taxable year. -- If a taxpayer's taxable year is changed for federal income tax purposes, the taxpayer's taxable year for purposes of this article shall be similarly changed. The taxpayer shall provide a copy of the authorization for such change from the Internal Revenue Service, with its annual return for the taxable year filed under this article.
(c) Methods of accounting.
(1) Same as federal. -- A taxpayer's method of accounting under this article shall be the same as the taxpayer's method of accounting for federal income tax purposes. In the absence of any method of accounting for federal income tax purposes, the accrual method of accounting shall be used unless the Tax Commissioner, in writing, consents to or requires use of another method.
(2) Change of accounting methods. -- If a taxpayer's method of accounting is changed for federal income tax purposes, his method of accounting for purposes of this article shall similarly be changed. The taxpayer shall provide a copy of the authorization for such change from the Internal Revenue Service, with its annual return for the taxable year filed under this article.
Structure West Virginia Code
Article 12B. Minimum Severance Tax on Coal
§11-12B-1. Short Title; Arrangement and Classification
§11-12B-3. Imposition of Tax, Credit
§11-12B-4. Accounting Periods and Methods of Accounting
§11-12B-6. Periodic Installment Payments of Estimated Tax
§11-12B-7. Time and Place for Paying Tax Shown on Returns
§11-12B-8. Extension of Time for Filing Return
§11-12B-9. Extension of Time for Paying Tax
§11-12B-10. Place for Filing Returns or Other Documents
§11-12B-11. Signing of Returns and Other Documents
§11-12B-12. Bond of Taxpayer May Be Required
§11-12B-15. General Procedure and Administration