SB79

West Virginia SB79 establishes a severance tax credit for expenditures on road or highway infrastructure improvements and coal production and.

West Virginia SB79 creates a tax credit for expenditures on road or highway infrastructure improvements and coal production and processing facilities. Eligible taxpayers can claim a credit against their severance tax liability for qualified expenditures. The credit is limited to 20% of the taxpayer's annual severance tax liability. The bill defines terms such as "eligible taxpayer," "expenditures for road or highway infrastructure improvement projects," and "expenditures for coal production and processing facilities." The credit can be carried forward for up to 10 years if unused.