Instructions for Form WV / SRDTC-1 West Virginia Strategic Research and Development Tax Credit - West Virginia

This document contains official instructions for Form WV/SRDTC-1 , West Virginia Strategic Research and Development Tax Credit - a form released and collected by the West Virginia State Tax Department.

FAQ

Q: What is Form WV/SRDTC-1?
A: Form WV/SRDTC-1 is the application form for the West Virginia Strategic Research and Development Tax Credit.

Q: What is the West Virginia Strategic Research and Development Tax Credit?
A: The West Virginia Strategic Research and Development Tax Credit is a tax credit provided to eligible businesses in West Virginia for qualified research and development expenses.

Q: Who is eligible for the West Virginia Strategic Research and Development Tax Credit?
A: Eligible businesses, including C corporations and pass-through entities, engaged in qualified research and development activities in West Virginia may be eligible for the tax credit.

Q: What expenses are considered qualified research and development expenses?
A: Qualified research and development expenses include wages, supplies, and contract research expenses incurred in West Virginia for qualified research activities.

Q: How do I apply for the West Virginia Strategic Research and Development Tax Credit?
A: You can apply for the tax credit by completing and submitting Form WV/SRDTC-1 to the West Virginia Development Office.

Q: When is the deadline to submit Form WV/SRDTC-1?
A: The deadline to submit Form WV/SRDTC-1 is generally April 15th of the year following the tax year in which the qualified expenses were incurred.

Q: Are there any limitations on the amount of the tax credit?
A: Yes, the tax credit is subject to certain limitations based on the amount of qualified research and development expenses and available tax credits.