Establishing disaster repair and recovery effort tax credit for taxpayers subject to severance and business privilege tax in certain circumstances

Summary

The bill lets companies that pay West Virginia's severance and business privilege taxes claim a credit for qualifying disaster‑related repair and recovery expenditures. The credit is limited to 20 % of a taxpayer’s annual severance tax liability and can be carried forward for up to ten years. It aims to encourage private‑sector assistance in restoring public infrastructure after natural catastrophes.

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