West Virginia Code 11-13R-5 – Amount of credit allowed
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The allowable credit is the greater of:
Terms Used In West Virginia Code 11-13R-5
- Base amount: means :
(A) The average annual combined qualified research and development expenditure for the three taxable years immediately preceding the taxable year for which a credit is claimed under this article. See West Virginia Code 11-13R-3
- Research and development: means systematic scientific, engineering or technological study and investigation in a field of knowledge in the physical, computer or software sciences often involving the formulation of hypotheses and experimentation for the purpose of revealing new facts, theories or principles or increasing scientific knowledge which may reveal the basis for new or enhanced products, equipment or manufacturing processes. See West Virginia Code 11-13R-3
(1) Three percent of the annual combined qualified research and development expenditure; or
(2) Ten percent of the excess of the annual combined qualified research and development expenditure over the base amount.