West Virginia HB4479 offers tax credits to manufacturers transforming West Virginia-sourced wood into value-added products.

West Virginia HB4479, the Timber Innovation and Manufacturing Boost for Economic Revitalization Act, provides tax credits to encourage the in-state production of value-added forest products. The bill defines "non-roundwood product" as wood products that have been materially transformed, such as veneer and composites. Manufacturers can claim credits based on the amount of West Virginia-sourced wood processed, with different rates for new facilities and expansions. The credits can be applied to corporate net income tax or personal income tax for pass-through entities.

West Virginia HB4479 offers tax credits to manufacturers transforming West Virginia-sourced wood into value-added products.

West Virginia HB4479, the Timber Innovation and Manufacturing Boost for Economic Revitalization Act, provides tax credits to encourage the in-state production of value-added forest products. The bill defines "non-roundwood product" as wood products that have been materially transformed, such as veneer and composites. Manufacturers can claim credits based on the amount of West Virginia-sourced wood processed, with different rates for new facilities and expansions. The credits can be applied to corporate net income tax or personal income tax for pass-through entities.