West Virginia SB621 provides a tax credit for corporations operating existing employer-provided child care facilities.

West Virginia SB621 offers a tax credit to corporations for operating existing employer-provided child care facilities. The credit applies to the cost of operating these facilities, excluding property costs. It is limited to 100% of the taxpayer's income tax liability for the year. Unused credits can be carried forward for five years. Nonprofit corporations can transfer their credits. The bill also allows for rulemaking by the Tax Commissioner to implement these provisions.

West Virginia SB621 provides a tax credit for corporations operating existing employer-provided child care facilities.

West Virginia SB621 offers a tax credit to corporations for operating existing employer-provided child care facilities. The credit applies to the cost of operating these facilities, excluding property costs. It is limited to 100% of the taxpayer's income tax liability for the year. Unused credits can be carried forward for five years. Nonprofit corporations can transfer their credits. The bill also allows for rulemaking by the Tax Commissioner to implement these provisions.