West Virginia Credit for Utility Net Operating Loss Carryovers

Credit for Utility Net Operating Loss Carryovers
2008 West Virginia Personal Income Tax Booklet
WV/UNOLC-1
Org. 08/2009

WEST VIRGINIA STATE TAX DEPARTMENT
SCHEDULE UNOLC-1
CREDIT FOR UTILITY NET OPERATING LOSS CARRYOVERS

BUSINESS NAME

IDENTIFICATION NUMBER

TAX PERIOD
MM

DD

YYYY

TO

MM

DD

YYYY

Part A - Qualification

Note: The Credit for Utility Net Operating Loss Carryovers is only available for tax years beginning on or after January 1, 2008.
In order to claim a Credit for Utility Net Operating Loss Carryovers, all of the following must be satisfied:
I. The Taxpayer, or an affiliate*, is subject to the Business and Occupation Tax prescribed by West Virginia
Code §11-13-1 et seq. and is exercising any privilege taxable under West Virginia Code §11-13-2o.
[*A group that has elected to file a consolidated Corporation Net Income Tax return is eligible if one or
more of the affiliates included would qualify.]
II. The Taxpayer had a West Virginia net operating loss carryover that existed as of December 31, 2006.
If items I and II above have been satisfied, please complete the following:
Name(s) and Federal Employer Identification Number(s) of Affiliates(s) meeting Item I above (attach extra page(s) as needed):

Name

FEIN

Part B - Total Available Credit Calculation

Amount of West Virginia Net Operating Loss Carryover that existed as of December 31, 2006

1.

1. $_______________

2. Total Amount of Utility Net Operating Loss Credit Available (0.25% {0.0025} of the
2. $_______________

West Virginia Net Operating Loss of December 31, 2006
Part C - Annual Credit Computation and Reconciliation
Tax Year
Ending
(mm/dd/yyyy)

(B)
(A)
Corporation Net
Beginning Balance
Income Tax
of Total Available
Liability
Utility Net Operating Loss
Carryover Credit

(C)
Other Tax
Credits Claimed

(D)
Adjusted Tax Liability
[Col B - Col C]

(E)
Utility Net Operating Loss
Carryover Credit Applied*
[Lesser of Amounts in
Col. A and Col. D]

(F)
Available Utility Net Operating Loss
Carryover Credit Remaining (Amount
on Line 2 less cumulative to date
amount of Col. E)

*Enter the amount of Utility Net Operating Loss Carryover Credit Applied (Column E above) for the current tax year on
Summary of Corporation Net Income Tax / Business Franchise Tax Credits (Schedule/Form WV/CNF-120TC).

Under penalties of perjury, I declare that I have examined this credit claim form (including accompanying schedules and statements) and to the best of
my knowledge it is true, and complete.

Signature of Taxpayer

Name of Taxpayer: Type or Print

Title

Person to Contact Concerning this Return

Signature of Preparer other than Taxpayer

Date

Telephone Number

Address

Title

Date