West Virginia Tax Department Adopts Rule on High-Wage Growth Business Tax Credit

The West Virginia State Tax Department adopted a regulation implementing the High-Wage Growth Business Tax Credit program. The regulation explains the Tax Commissioner’s responsibilities in reviewing applications approved by the West Virginia Development Office for businesses seeking tax credits for creating high-wage jobs, including procedures for applying credits against corporation net income tax and personal income tax, allowing up to $100,000 of unused credits to be refunded annually, and establishes a 10-year carryforward period for unused credits. The rule took effect April 28. [W. Va. State Tax Dep’t, Reg. Section 110-13II, 04/28/26]