Every taxpayer who claims credit under 11-13GG-1 et seq. of this code shall maintain sufficient records to establish the following facts for each item of qualified property:
(1) Its identity;
(2) Its actual or reasonably determined cost;
(3) Its straight-line depreciation life;
(4) The month and taxable year in which it was placed in service;
(5) The amount of credit taken; and
(6) The date it was disposed of or otherwise ceased to be use as qualified property in the downstream natural gas manufacturing facility of the taxpayer.
Structure West Virginia Code
Article 13GG. Downstream Natural Gas Manufacturing Investment Tax Credit of 2020
§11-13GG-2. Legislative Finding and Purpose
§11-13GG-4. Amount of Credit Allowed
§11-13GG-5. Application of Annual Credit Allowance
§11-13GG-6. Qualified Investment
§11-13GG-7. New Jobs Percentage
§11-13GG-8. Forfeiture of Unused Tax Credits; Redetermination of Credit Allowed
§11-13GG-9. Recapture of Credit; Recapture Tax Imposed
§11-13GG-10. Transfer of Qualified Investment to Successors
§11-13GG-11. Identification of Investment Credit Property
§11-13GG-12. Failure to Keep Records of Investment Credit Property
§11-13GG-13. Interpretation and Construction
§11-13GG-14. Burden of Proof; Application Required; Failure to Make Timely Application
§11-13GG-15. Tax Credit Review and Accountability
§11-13GG-17. General Procedure and Administration