Form Mitc-A - Application For West Virginia Manufacturing Investment Tax Credit For Investments Placed In Service On Or After January 1, 2003 Page 3
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4APPLICATION FOR WEST VIRGINIA MANUFACTURING
INVESTMENT TAX CREDIT FOR INVESTMENTS PLACED IN
SERVICE ON OR A
J
1, 2003
FTER
ANUARY
Information and Instructions
T
HE
Manufacturing Investment Tax Credit (MITC)
investment. (Check only one block.)
is available to a manufacturer making a qualifi ed
a. The Taxpayer for purposes of industrial expansion
investment (on or after January 1, 2003) for
places qualifi ed investment property in service or use.
purposes of industrial expansion or revitalization
of an industrial facility within West Virginia. Qualifi ed
b. The Taxpayer for purposes of industrial revitalization
businesses include only those engaged in the activity of
places qualifi ed investment property in service or use.
manufacturing within West Virginia. Manufacturing is
defi ned as any business activity classifi ed as having a
c. The Taxpayer for purposes of both industrial expansion
sector identifi er, consisting of the fi rst two digits of the six-
and revitalization places qualifi ed property in service
digit North American Industry Classifi cation System code
or use.
number, of thirty-one, thirty-two or thirty-three or the six
digit North American Industry Classifi cation System Code
Business Activity in West Virginia:
Number 211112.
The Manufacturing Investment Tax Credit is not available
a. Enter the North American Industry Classifi cation
to businesses engaged in the activity of electric power
System Code that most closely describes your business
generation. Qualifi ed investment by businesses engaged
activity in West Virginia.
in the activity of electric power generation qualify for
another investment tax credit, the Industrial Expansion and
b. Describe the industrial expansion or industrial
Revitalization Credit.
revitalization activity in West Virginia that is associated
with your new investment (e.g., construction of a new
Industrial expansion is defi ned as capital investment in a
reconstituted wood product manufacturing plant).
new or expanded industrial facility in this State. Industrial
revitalization or revitalization is defi ned as capital
investment in an industrial facility located in this State to
Investment: Enter the year investment is placed
replace or modernize buildings, equipment, machinery and
into service or use in the fi rst column, the total
other tangible personal property used in connection with
dollar amount of investment placed into service or use
the operation of the facility in an industrial business of the
in the second column and the dollar amount of qualifi ed
Taxpayer, including the acquisition of any real property
investment placed into service or use in the third column.
necessary to the industrial revitalization. Industrial business
Qualifi ed Investment is determined according to the
or industrial Taxpayer is defi ned as any Taxpayer who is
following useful life (straight line depreciation):
primarily engaged in a manufacturing business.
Useful Life
By Law, no credit may be allowed or applied for any qualifi ed
Percent Qualifi ed
At Least
But Less Than
investment property placed in service until the person
0 —
4 years
0
asserting a claim for the credit makes writt en application
4 —
6 years
33-1/3
to the Tax Commissioner. Failure to timely apply for credit
6 —
8 years
66-2/3
will result in forfeiture of 50% of the annual credit allowance
otherwise available under this requirement. Form MITC-A
8 or more years
100
is designed to be a general application form for taxpayers
wishing to claim credit based upon investments placed into
Enter the location(s) of the qualifi ed investment
use or service on or after January 1, 2003. The timely fi ling
property (i.e. Main Street, Weston, or 12 miles north
of this application is a condition precedent to claiming tax
of Pipestem at the Intersection of State Route 3 and State
credits. This application must be fi led annually no later
Route 20).
than the due date of the taxpayer’s West Virginia income
tax return including any legally granted extension of time
Provide a general description of the qualifi ed
for fi ling such returns.
investment property in the space provided (i.e.
$100,000 to be invested in buildings, $500,000 to be invested
I
T
F
MITC-A
in machinery and equipment, etc.)
NSTRUCTIONS
O
ORM
Investment Purpose: Place a check mark in the
block next to the applicable purpose of your
MITC-A
Page 1
Rev. 12-11
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