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WV/CNF-120TC

SUMMARY OF CORPORATION NET INCOME/BUSINESS FRANCHISE TAX CREDITS

2007

REV 5-07

Name

FEIN

This form is used by corporations to summarize the tax credits that they claim against their corporate income tax and/or business franchise tax liability. In

addition to completing this summary form, each tax credit has a schedule or form that is used to determine the amount of credit that can be claimed. Both

this summary form and the appropriate credit calculation schedule(s) or form(s) must be attached to your return in order to claim a tax credit.

COLUMN 1

COLUMN 2

TAX CREDITS

APPLICABLE TO

THE TOTAL AMOUNT OF CREDIT FOR EITHER

BUSINESS FRANCHISE TAX

CORPORATE INCOME TAX

TAX CANNOT EXCEED THE TAX LIABILITY FOR THAT TAX

1 Subsidiary Credit (11-23-17(c)) - Schedule A-1, Form WV/CNF-120.........................

2 Business & Occupation Tax Credit (11-23-17(b)) - Schedule A-2, Form WV/CNF-120

3 Commercially Domiciled Financial Organization Tax Credit Franchise Tax (11-23-27) -

Schedule A-3, Form WV/CNF-120 Income Tax (11-23-24) - Schedule B-3, Form

WV/CNF-120.............................................................................................................

4 Research and Development Projects Credit (11-13D-3(f)) - Schedule R & D *..........

5 Strategic Research and Development Tax Credit (11-13R) - Schedule

WV/SRDTC-1 Begins 1/1/2003.................................................................................

6 High-Growth Business Investment Tax Credit (11-13U-4) - Schedule WV/HGBITC-1

7 Business Investment & Job Expansion Credit (11-13C), Form WV/BCS-A, and

WV/BCS-1 or WV/BCS-Small *, ** ..........................................................................

8 Economic Opportunity Tax Credit (11-13Q) - Schedule WV/EOTC-1 Begins 1/1/2003

9 Industrial Expansion/Revitalization Credit (11-13D) Schedule I *..............................

10 Manufacturing Investment Tax Credit (11-13S) - Schedule WV/MITC-1 Begins

1/1/2003..................................................................................................................

11 Residential Housing Development Projects Credit (11-13D) - Schedule O *............

12 Coal Loading Facilities Credit (11-13E) - Schedule C.............................................

13 Capital Company Investment Credit (5E-1-8) - Schedule CCP................................

14 Historic Rehabilitated Buildings Investment Credit (11-24-23a) - Schedule RBIC...

15 West Virginia Neighborhood Investment Program Credit (11-13J) - Form WV/NIPA-2

16 Alternative-Fuel Motor Vehicle Tax Credit (11-6D) - Form WV/AFMV-1....................

17 Environmental Agricultural Equipment Tax Credit (11-13K) - Form WV/AG-1...........

18 Electric and Gas Utilities Rate Reduction Credit (11-24-11) - Schedule L.................

19 Telephone Utilities Rate Reduction Credit (11-24-11a) - Schedule K........................

20 West Virginia Military Incentive Credit (11-24-12) - Schedule J...............................

21 Aerospace Industrial Facility Investment Credit (11-13D-3f) - Form WV/AIF-1 *.....

22 Credit for utility taxpayers with net operating loss carryovers. (11-24-11b)..............

23 TOTAL CREDITS - Add Lines 1 through 22............................................................

Enter on Form WV/CNF-120

Line 9 of the front of the return

Line 4 of the front of the return

24 Strategic Research and Development Tax Credit (11-13R) Schedule WV/SRDTC-1 Begins 1/1/2003 (if this

amount was not previously claimed on Line 5 of your taxable credits above, enter this amount on Line 15 of the front

of the return.) THIS IS YOUR TOTAL REFUNDABLE CREDIT***

Attach this form and the appropriate computation schedules/forms and documentation to your return to support the credits claimed.

* No credit is available to any taxpayer for Investment placed in service or use after December 31, 2002. Taxpayers who gained entitlement to the tax credit

prior to January 1, 2003, retain that entitlement and may apply the credit in due course pursuant to the requirements and limitations of the original credit

entitlement period.

**Transition rules may apply.

*B30090707A*

***See Schedule WV/SRDTC-1, Line 26 to determine eligibility to claim the refundable

credit.

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