Terms Used In West Virginia Code > Chapter 11 > Article 13FF - Tax Credit for Donation or Sale of Vehicle

• Association: means a partnership, limited partnership or any other form of unincorporated enterprise, owned or conducted by two or more persons. See West Virginia Code 11-22-1
• Commissioner: means the Tax Commissioner of the State of West Virginia, or his or her delegate. See West Virginia Code 11-13FF-1
• Division: means the Tax Division of the Department of Revenue. See West Virginia Code 11-13FF-1
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Person: means every natural person, association or corporation. See West Virginia Code 11-22-1
• Program Value: means the fair market value of the vehicle less an amount to be determined by the qualifying charitable organization based upon the suitability of the vehicle to its program. See West Virginia Code 11-13FF-1
• Qualified Charitable Organization: means a nonprofit association which:

  (A) Is recognized as exempt from federal taxation under §. See West Virginia Code 11-13FF-1

• Value: means in the case of any document not a gift, the amount of the full actual consideration for the document, paid or to be paid, including the amount of any lien or liens assumed. See West Virginia Code 11-22-1
• Vehicle: means a passenger motor vehicle that is suitable for daily commutes for employment purposes and is acceptable to the qualifying charitable organization as to its suitability for its program. See West Virginia Code 11-13FF-1