The purpose of this bill is to provide a phased-in credit against corporation net income tax and personal income tax for ad valorem property taxes paid in this state with respect to industrial tangible personal property consisting of machinery and equipment, and to provide a transitional credit against the portion of a taxpayer's corporation net income tax resulting from its use of combined reporting, the amount of the credit being measured by the lesser of the amount of ad valorem property taxes paid in the tax year by the taxpayer in this state with respect to industrial tangible personal property consisting of machinery and equipment or the amount of increased corporation net income tax paid due to combined reporting.

Creating WV Manufacturing Competitiveness and Growth Act

Chafin	Foster	Jenkins	McCabe
Unger	Wells

11-24-9d (New)
11-13AA-1 (New)
11-13AA-2 (New)
11-13AA-3 (New)
11-13AA-4 (New)
11-13AA-5 (New)
11-13AA-6 (New)
11-13AA-7 (New)
11-13AA-8 (New)
11-13AA-9 (New)

2010-02-08 - To Finance
2010-02-08 - Committee substitute reported, but first to Finance
2010-01-13 - To Economic Development
2010-01-13 - To Economic Development then Finance
2010-01-13 - Introduced in Senate
2010-01-13 - To Economic Development then Finance
2010-01-13 - Filed for introduction