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West Virginia Neighborhood Investment Program Credit Schedule
Extracted from PDF file 2023-west-virginia-form-nipa2.pdf, last modified December 1969Neighborhood Investment Program Credit Schedule
WV/NIPA-2 Rev. 1/16 West Virginia West Virginia Neighborhood Investment Program Credit Schedule State Tax Department (For periods AFTER January 1, 2015) Tax ID or Social Security # Name Tax Period To MM Computation of Eligible Credit DD YYYY MM DD YYYY 1. a) Project Number WV-NIPA-_____._________................................................................. $ b) Project Number WV-NIPA-_____._________................................................................. $ c) Project Number WV-NIPA-_____._________................................................................. $ 2. Amount Carried Forward From Schedule A, Column 3...................................................... $ 3. Total Neighborhood Investment Program Credit (Add Lines 1 and 2)................................ $ Corporate Net Income Tax 4. Total Allowable Credit (Lesser of Line 3 or $100,000)........................................................ $ 5. a) Total Corporate Net Income Tax..................................................................... $ b) Credit Limit (50% of Line 5a).......................................................................... $ c) Neighborhood Investment Program Credit (Smaller of Line 5b and 4)...........$ Fiduciary Income Tax b) Credit Limit (50% of Line 6a).......................................................................... $ c) Remaining NIPA Credit (Line 4 minus Line 5c)...............................................$ d) Trust’s or Estate’s Share of Profit or Loss (State as a Decimal).....................$ e) Multiply Line 6c times Line 6d........................................................................ $ f) Neighborhood Investment Program Credit (Smaller of Line 6b or Line 6e).....$ 7. a) Total West Virginia Personal Income Tax (From Form IT-140)....................... $ Personal Income Tax B u siness ( es ) 6. a) Total Fiduciary Income Tax............................................................................. $ b) Credit Limit (50% of Line 7a).......................................................................... $ c) Remaining NIPA Credit: (If Partner, S Corporation Shareholder, or Beneficiary, Enter Line 4 Minus Line 5c)........................................................ $ d) Enter Share or Profit of Loss (State as a Decimal; If Partner, S Corporation Shareholder, or Beneficiary, Enter Share of Profit or Loss)............................ $ e) Multiply Line 7c times Line 7d........................................................................ $ 8. a) Total West Virginia Personal Income Tax (From Form IT-140)....................... $ Personal Income Tax Individuals f) Neighborhood Investment Program Credit (Smaller of Line 7b or Line 7e).....$ b) Credit limit (50% of Line 8a)........................................................................... $ c) Enter the amount from Line 4......................................................................... $ d) Enter the smaller of Line 8b or Line 8c...........................................................$ WV/NIPA-2 Revised 1/16 Page 1 of 2 Schedule A West Virginia Neighborhood Investment Credit Carryover Spreadsheet Column 1 Column 2 Column 3 Project Number Beginning Year For Project Number Amount of Investment Credit Carryover WV-NIPA- - WV-NIPA- - WV-NIPA- - WV-NIPA- - WV-NIPA- - Column 4 Amount Carried Forward and Used Prior to This Year Column 5 Column 6 Amount Being Used Remaining Unused Credit This Year Total WV/NIPA-2 Revised 1/16 Page 2 of 2
Form NIPA2
More about the West Virginia Form NIPA2 Corporate Income Tax Tax Credit TY 2023
We last updated the Neighborhood Investment Program Credit Schedule in February 2024, so this is the latest version of Form NIPA2, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form NIPA2 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 NIPA2 from the Department of Revenue in February 2024.
Form NIPA2 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 NIPA2
We have a total of eleven past-year versions of Form NIPA2 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2012 Form NIPA2
WV_NIPA_2
2011 Form NIPA2
WV_NIPA_2
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