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West Virginia Summary of Corporation Net Income Tax / Business Franchise Tax Credits
Form CNF120TC is obsolete, and is no longer supported by the West Virginia Department of Revenue.
Extracted from PDF file 2019-west-virginia-form-cnf120tc.pdf, last modified December 1969Summary of Corporation Net Income Tax / Business Franchise Tax Credits
2019 SUMMARY OF CORPORATION NET INCOME CNF-120TC REV 5-19 W TAX CREDITS CORPORATION NAME FEIN This form is used by corporations to summarize the tax credits that they claim against their Corporation Net Income Tax liability. In addition to completing this summary form, each tax credit has a schedule or form that is used to determine the amount of credit that can be claimed. Both this summary form and the appropriate credit calculation schedule(s) or form(s) must be attached to your return in order to claim a tax credit. If you are claiming the Neighborhood Investment Program Credit you are no longer required to enclose the WV/NIPA-2 credit schedule with your return. You must maintain the schedule in your files. TAX CREDITS THE TOTAL AMOUNT OF CREDIT CANNOT EXCEED THE TAX LIABILITY FOR THAT TAX COLUMN 1 CREDIT CALCULATED ON APPROPRIATE SCHEDULE COLUMN 2 CREDIT USED 1. Economic Opportunity Tax Credit (§11-13Q) Schedule WV/EOTC-1 and EOTC-A .................................... 1 .00 .00 2. Manufacturing Investment Tax Credit (§11-13S) Schedule WV/MITC-1 and MITC-A ....................................... 2 .00 .00 3. Historic Rehabilitated Buildings Investment Credit (§11-24-23a) Schedule RBIC and RBIC - A ............................................... 3 .00 .00 4. West Virginia Neighborhood Investment Program Credit (§11-13J) Form WV/NIPA-2.................................................................... 4 .00 .00 5. Environmental Agricultural Equipment Tax Credit (§11-13k) Form WV/AG-1 ...................................................................... 5 .00 .00 6. Electric, Gas, and Water Utilities Rate Reduction Credit (§11-24-11) Schedule L............................................................................. 6 .00 .00 7. Telephone Utilities Rate Reduction Credit (§11-24-11a) Schedule K............................................................................. 7 .00 .00 8. West Virginia Military Incentive Credit (§11-24-12) Schedule J............................................................................. 8 .00 .00 9. Apprentice Training Tax Credit (§11-13w) Schedule WV/ATTC-1............................................................. 9 .00 .00 10. Film Industry Tax Credit (§11-13x) Schedule WVFIIA-TCS........................................................... 10 .00 .00 11. Manufacturing Property Tax Adjustment Credit (§11-13Y) Schedule WV/MPTAC-1......................................................... 11 .00 .00 12. Alternative Fuel Tax Credit (§11-6d) Schedule AFTC-1................................................................... 12 .00 .00 13. Innovative Mine Safety Technology Tax Credit (§11-13BB) Schedule IMSTTC-1............................................................... 13 .00 .00 14 .00 .00 15 .00 .00 Enter on Line 11, Schedule 1 or Line 17, Schedule 2 14. Farm to Food Bank Tax Credit (§11-13DD)................................ 15. TOTAL CREDITS Add lines 1 through 14............................................................ Attach this form and the appropriate computation schedules/forms and documentation to your return to support the credit claimed. *B30201911W* B 3 0 2 0 1 9 1 1 W
Form CNF120TC
More about the West Virginia Form CNF120TC Corporate Income Tax Tax Credit
Obsolete
We last updated the Summary of Corporation Net Income Tax / Business Franchise Tax Credits in April 2021, and the latest form we have available is for tax year 2019. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the West Virginia Department of Revenue. You can print other West Virginia tax forms here.
Other West Virginia Corporate Income Tax Forms:
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 CNF120TC from the Department of Revenue in April 2021.
Form CNF120TC 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 CNF120TC
We have a total of six past-year versions of Form CNF120TC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
TaxFormFinder Disclaimer:
While we do our best to keep our list of West Virginia Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.