Tax Credit Overview
Economic Opportunity Credit: Available to qualified businesses that make a qualified investment in a new or expanded business. The credit is also available for qualified small businesses and headquarters relocation.
Manufacturing Investment Credit: For manufacturers that make qualified capital investments in an industrial facility.
Strategic R&D Credit: For businesses engaged in qualified research and development activities. The credit may be refundable in some cases. Purchases of tangible personal property and services for direct use in research and development are exempt from West Virginia's consumer sales and service tax and use tax.
High Growth Business Investment Tax Credit: Equal to 50 percent of the qualified investment made in companies that have been certified by the tax commissioner as eligible for the Strategic R&D Tax Credit.
Warehouse "Freeport" Tax Exemption: Goods in transit to an out-of-state destination are exempt from ad valorem property taxes when warehoused in West Virginia.
"Five-for-Ten" Program: Provides a tax incentive to businesses that make qualified capital improvements of at least $50 million to an existing base of $100 million or more. It assesses the new capital addition at a salvage value of 5 percent for the first 10 years.
Manufacturing Sales Tax Exemption: Materials and equipment purchased for direct use in manufacturing are exempt from the 6 percent state sales and use tax.
Tourism Development Incentive: An eligible company that invests in and operates a new or expanding tourism destination project may receive a return of up to 25 percent of approved development costs over 10 years through a consumer sales tax credit.
Sunny Day Fund: The Governor's Contingency Fund now contains funds specially earmarked for economic development projects.
West Virginia Capital Company Credit: Investors in qualified West Virginia capital companies are entitled to a state tax credit equal to 50 percent of their investment. Capital companies must have a capital base of at least $1 million but not greater than $4 million. The state has authorized $6 million in credits.
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