West Virginia Code 11-13M-1 – Legislative purpose
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The Legislature finds that production of consumer-ready wood products is very important to the economy of this state and that a sound economy is in the public interest and promotes the general welfare of the people of this state. In order to encourage capital investment in this state, through the manufacture of consumer-ready wood products after June 30, 1997, thereby increasing employment and economic development, there is hereby provide to eligible taxpayers a credit for each new job filled by a full-time hourly employee who works in a new consumer-ready wood product manufacturing facility, or in a new consumer-ready wood product line of an existing manufacturing facility, that begins operating in this state after June 30, 1997.
Terms Used In West Virginia Code 11-13M-1
- Consumer-ready wood products: means value-added wood products that are ready for sale to consumers at the end of the manufacturing process. See West Virginia Code 11-13M-2
- Existing manufacturing facility: means a building which at anytime during the twelve months preceding the month in which manufacture of a consumer-ready wood product begins was used by the taxpayer, or by a related person, to manufacture tangible personal property. See West Virginia Code 11-13M-2
- Manufacturing facility: means any facility which is used in the manufacturing of tangible personal property (including processing resulting in a change in the condition of such property). See West Virginia Code 11-13M-2
- New consumer-ready wood product line: means the manufacture of a consumer-ready wood product in an existing manufacturing facility in this state that first begins manufacturing the new consumer-ready wood product line after June 30, 1997. See West Virginia Code 11-13M-2
- New job: means a job at a new consumer-ready wood product manufacturing facility located in this state, or at a new consumer-ready wood product line at an existing manufacturing facility located in this state, which did not exist in this state with any employer as of the first day of the second calendar month preceding the calendar month in which the new consumer-ready wood product manufacturing facility begins to manufacture consumer-ready wood products, or in which the new consumer-ready wood product line begins to manufacture consumer-ready wood products in an existing manufacturing facility located in this state, that is filled by a full-time employee of the eligible taxpayer. See West Virginia Code 11-13M-2
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10