(a) Every taxpayer who claims credit under this article shall maintain sufficient records to establish the following facts for each item of property purchased for manufacturing investment:
(1) Its identity;
(2) Its actual or reasonably determined cost;
(3) Its 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 property purchased for manufacturing investment.
(b) Every taxpayer who claims credit under this article shall also maintain sufficient records to establish the number and types of new jobs, if any, created, the wages and benefits paid to employees filling the new jobs and the duration of each job.
Structure West Virginia Code
Article 13LL. Industrial Advancement Act
§11-13LL-2. Legislative Findings and Purpose
§11-13LL-5. Qualified Manufacturing Investment
§11-13LL-6. Forfeiture of Unused Tax Credits; Redetermination of Credit Allowed
§11-13LL-7. Transfer of Property Purchased for Manufacturing Investment to Successors
§11-13LL-8. Identification of Investment Credit Property
§11-13LL-9. Failure to Keep Records of Property Purchased for Manufacturing Investment