West Virginia Code 11-13GG-11 – Identification of investment credit property
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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:
Terms Used In West Virginia Code 11-13GG-11
- Natural gas: means a gaseous fossil energy source that formed deep beneath the earth's surface that is a combustible mixture of methane and other hydrocarbons. See West Virginia Code 11-13GG-3
- Taxpayer: means any person subject to any of the taxes imposed by §. See West Virginia Code 11-13GG-3
- This code: means the Code of West Virginia, 1931, as amended. See West Virginia Code 11-13GG-3
(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.