State Credit Name: Strategic Research and Development Tax Credit
Expiration Date: Indefinite
Who Can Apply? West Virginia Corporations and flow-through entities
Credit Carry Forward: Unused credit can be carried forward 12 years.
About the Credit: The credit can be claimed against the Business Franchise Tax, Corporation Net Income Tax or Personal Income Tax. The credit rate is the greater of 3% of eligible expenditures or 10% of excess QRE’s compared to the average QRE’s of the 3 prior years.
Notes: Qualified taxpayers must file form WV/SRDTC-A with the original tax return to qualify for any credit.
Click here to find out if you qualify for the federal research credit.
Contact your local Swanson Reed office to speak with a representative in your area today.