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West Virginia Environmental Agricultural Equipment Tax Credit
Extracted from PDF file 2023-west-virginia-form-ag1.pdf, last modified December 2015Environmental Agricultural Equipment Tax Credit
WV/AG-1 REV 9/15 West Virginia Environmental Agricultural Equipment Tax Credit Business Name West Virginia State Tax Department WV Tax ID Number Tax Period To Part 1 Eligible Purchases Date placed into use or service Description Cost Total eligible purchases during the taxable year (Add costs above).............................. Part 2 Claiming the Credit – Corporations SUMMARY OF TOTAL CREDIT AVAILABLE FOR CURRENT TAXABLE YEAR 1. Available credit from this year (25% of total eligible purchases from Part 1)............. 2. Excess credit carried forward from previous years Year of Purchase Excess amount carried forward 5th preceding year 4th preceding year 3rd preceding year 2nd preceding year 1st preceding year 3. TOTAL credit carried forward from previous years..................................................... FIGURING THE CREDIT 4. West Virginia corporate net income tax................................................................... 5. Gross income from agricultural operations in West Virginia.................................... 6. Gross income from all operations everywhere......................................................... 7. Eligible income ratio (line 5 divided by line 6. State as a decimal. Not more than 1.0) 8. West Virginia net income tax eligible for credit (line 4 multiplied by line 7)............. 9. Other tax credits claimed against liability on return.......................................................... 10. Adjusted West Virginia corporate net income tax liability (line 8 minus line 9. If zero or less, enter 0.)............................................................................................... 11. Excess of credit from last five years (Enter amount from line 3, Part 2).................. 12. Amount of credit carried forward from previous years and applied this year (lesser of line 10, $2,500.00, or line 11)................................................................... 13. Remaining tax liability (line 10 minus line 12)......................................................... 14. Maximum credit left to apply ($2,500 minus line 12. If zero or less, enter 0).......... 15. Amount of current years credit applied (lesser of line 13 or line 14, or line 1)......... 16. Total credit applied this year (Sum of lines 12 and 15)............................................ Form WV/AG-1 Page 1 of 4 Rev. 9/15 Continued on next page… …Part 2 Continued from previous page CALCULATION OF CREDIT AVAILABLE TO CARRYOVER TO THE NEXT YEARS 17. Excess credit from current year available to carryover (line 1 minus line 15)................ 18. Excess credit from previous years available to carryover Year 5 th preceding year 4 th preceding year Column 1 Excess amount carried forward Column 2 Amount used this year Column 3 Excess available to carryover (Col. 1 minus Col. 2) Forfeited 3rd preceding year 2nd preceding year 1st preceding year Part 3 Claiming the Credit – Sole Proprietors SUMMARY OF TOTAL CREDIT AVAILABLE FOR CURRENT TAXABLE YEARS 1. Available credit from this year (25% of total eligible purchases from Part 1)............. 2. Excess credit carried forward from previous years Year of Purchase 5 th Excess amount carried forward preceding year 4th preceding year 3rd preceding year 2nd preceding year 1st preceding year 3. TOTAL credit carried forward from previous years..................................................... FIGURING THE CREDIT 4. West Virginia corporate net income tax................................................................... 5. Gross income from agricultural operations in West Virginia.................................... 6. Gross income from all operations everywhere......................................................... 7. Eligible income ratio (line 5 divided by line 6. State as a decimal. Not more than 1.0) 8. West Virginia net income tax eligible for credit (line 4 multiplied by line 7)............. 9. Other tax credits claimed against liability on return.......................................................... 10. Adjusted West Virginia corporate net income tax liability (line 8 minus line 9. If zero or less, enter 0.)............................................................................................... 11. Excess of credit from last five years (Enter amount from line 3, Part 2).................. 12. Amount of credit carried forward from previous years and applied this year (lesser of line 10, $2,500 or line 11)......................................................................... 13. Remaining tax liability (line 10 minus line 12)......................................................... 14. Maximum credit left to apply ($2,500 minus line 12. If zero or less, enter 0).......... 15. Amount of current years credit applied (lesser of line 13 or line 14, or line 1)......... 16. Total credit applied this year (Sum of lines 12 and 15)............................................ Continued on next page… Form WV/AG-1 Page 2 of 4 Rev. 9/15 …Part 3 continued from previous page CALCULATION OF CREDIT AVAILABLE TO CARRYOVER TO THE NEXT YEARS 17. Excess credit from current year available to carryover (line 1 minus line 15)................ 18. Excess credit from previous years available to carryover Year 5 th preceding year 4 th preceding year Column 1 Excess amount carried forward Column 3 Excess available to carryover (Col. 1 minus Col. 2) Column 2 Amount used this year Forfeited 3rd preceding year 2nd preceding year 1st preceding year Part 4 Claiming the Credit – Partners, Shareholders and Members IDENTIFICATION OF PASS-THROUGH ENTITY Name: ____________________________________________________________________ WV Tax Identification Number: ___________________________________________________ Type of Pass-through Entity (mark one): S Corporation Partnership Limited Liability Co. SUMMARY OF TOTAL CREDIT AVAILABLE FOR CURRENT TAXABLE YEAR 1. Available credit from this year (25% of total eligible purchases from Part 1)............. 2. Your percentage of ownership of the pass-through entity (state as a decimal).......... 3. Your share of the available credit (line 1 multiplied by line 2).................................... 4. Excess credit carried forward from previous years Year of Purchase Excess amount carried forward 5th preceding year 4th preceding year 3rd preceding year 2nd preceding year 1st preceding year 5. TOTAL credit carried forward from previous years..................................................... FIGURING THE CREDIT 6. Distributive share from pass-through entity.............................................................. 7. Total West Virginia agricultural income of pass-through entity................................. 8. Total income of pass-through entity.......................................................................... 9. Eligible pass-through entity income ratio (line 7 divided by line 8. State as decimal).... 10. Tentative distributive share eligible for credit (line 6 multiplied by line 9)................. 11. Total distributive income from pass-through entity reported on your tax return........ 12. Federal AGI or Federal taxable income, as applicable............................................. 13. Distributive eligible income ratio (line 11 divided by line 12. State as a decimal)..... 14. Reported distributive share eligible for credit (line 10 multiplied by line 13)............. 15. Eligible income ratio (line 14 divided by line 12. State as a decimal. Not more than 1.0).. 16. West Virginia income tax liability............................................................................... 17. West Virginia income tax eligible for credit (line 15 multiplied by line 16)................ 18. Other tax credits claimed against liability on return...................................................... Continued on the next page… Form WV/AG-1 Page 3 of 4 Rev. 9/15 …Part 4 continued from previous page 19. Adjusted West Virginia income tax liability (line 17 minus line 18. If zero or less, enter 0...................................................................................................................... 20. Excess credit from last five years (Enter amount from line 5, Part 4)...................... 21. Amount of credit carried forward from previous years and applied this year (lesser of line 19, $2,500.00, or line 20)................................................................... 22. Remaining tax liability (line 19 minus line 21)....................................................................... 23. Maximum credit left to apply ($2,500.00 minus line 21. If zero or less, enter 0)..... 24. Amount of current years credit applied (lesser of line 22 or line 23 or line 1).......... 25. Total credit applied this year (Sum of lines 21 and 24)................................................ CALCULATION OF CREDIT AVAILABLE TO CARRYOVER TO THE NEXT YEARS 26. Excess credit from current year available to carryover (line 1 minus line 24)................ 27. Excess credit from previous years available to carryover Year 5 th preceding year 4 th preceding year Column 1 Excess amount carried forward Column 2 Amount used this year Column 3 Excess available to carryover (Col. 1 minus Col. 2) Forfeited 3rd preceding year 2nd preceding year 1st preceding year Part 5 Certification/Signature I hereby certify, under penalties of perjury, that all information on this credit schedule and all accompanying attachments are true, complete, and correct to the best of my knowledge and belief, and that all items that are the basis of this credit are qualified agricultural equipment. Signature Form WV/AG-1 Page 4 of 4 Rev. 9/15 Name – type or print Title Date
Form AG1
More about the West Virginia Form AG1 Corporate Income Tax Tax Credit TY 2023
Use this form to claim any agricultural equipment purchased for your business.
We last updated the Environmental Agricultural Equipment Tax Credit in February 2024, so this is the latest version of Form AG1, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form AG1 directly from TaxFormFinder. You can print other West Virginia tax forms here.
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TaxFormFinder has an additional 75 West Virginia income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form PTE100 | Income Tax Return S Corporation & Partnership (Pass-Through Entity) Formerly SPF 100 |
| SPF100 Schedule SP | Shareholder / Partner Information and Non-resident Withholding |
| Form CIT 120 | Corporate Net Income (formerly CNF 120) |
| Form IT-141ES | Fiduciary Estimated Tax Payment Voucher |
| Form NRW4 | Non-resident Income Tax Agreement |
View all 76 West Virginia Income Tax Forms
Form Sources:
West Virginia usually releases forms for the current tax year between January and April. We last updated West Virginia Form AG1 from the Department of Revenue in February 2024.
Form AG1 is a West Virginia Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of West Virginia Form AG1
We have a total of ten past-year versions of Form AG1 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2011 Form AG1
PDFwv-ag1.PDF
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