West Virginia Financial Organization Goodwill Credit

Financial Organization Goodwill Credit
2008 West Virginia Personal Income Tax Booklet
WV/FOGW-1
Org. 08/2009

WEST VIRGINIA STATE TAX DEPARTMENT
SCHEDULE FOGW-1
FINANCIAL ORGANIZATION GOODWILL CREDIT

BUSINESS NAME

IDENTIFICATION NUMBER

TAX PERIOD
MM

YYYY

DD

TO

MM

DD

YYYY

Part A - Credit Qualification and Acquistion Summary

In order to claim a Financial Organization Goodwill Credit, both of the following must be satisfied:
I. Claimant must be a financial organization with its commercial domicile in West Virginia that acquires a financial
organization that does not have its commercial domicile in West Virginia;
I I. The goodwill associated with the acquisition is first added to the net equity of the financial organization with its
commercial domicile in West Virginia on or after January 1, 2008;
Acquisition Summary
Date of Acquisition

Name of Acquired Financial Organization

FEIN of Acquired Acquisition

Goodwill Added
to Net Equity

Part B - Credit Calculation

If items I and II of Part A have been satisfied and the Acquisition Summary has been completed, please complete the following:
1.

Amount of goodwill associated with the acquisition first recorded on the balance sheet of the
financial organization with its commercial domicile in West Virginia (Add the values from the
1. $
Goodwill Added to Net Equity column of the Acquisition Summary and enter here).

2.

Credit Limit Factor I. (Multiply the amount on Line 1 by 0.5).

3.

Credit Limit Factor II (Multiply the
for taxable years beginning on or
for taxable years beginning on or
for taxable years beginning on or
for taxable years beginning on or
for taxable years beginning on or
for taxable years beginning on or
for taxable years beginning on or
for taxable years beginning on or

4.

Business Franchise Tax Liability:
a.
4a. $
Enter total Business Franchise Tax Liability.
b.
Enter Subsidiary Credit Claimed.
4b. $
c.
Adjusted Business Franchise Liability
4c. $
(Subtract the amount on Lines 4b from the amount on Line 4a).
d.
Business Franchise Tax Financial Organization Goodwill Credit Offset
(Enter the lesser of the amount on Line 3 and the amount on Line 4c here,
and on Summary of Corporation Net Income Tax/Business Franchise Tax
Credits (Schedule/Form WV/CNF-120TC) or summary of Business Franchise
Tax Credits (Schedule/Form WV/SPF-100TC)).

2. $

amount on Line 2 by the Business Franchise Tax rate)
after 1/1/2008 use 0.0055;
after 1/1/2009 use 0.0048;
after 1/1/2010 use 0.0041;
after 1/1/2011 use 0.0034;
after 1/1/2012 use 0.0027;
after 1/1/2013 use 0.0020;
after 1/1/2014 use 0.0010;
after 1/1/2015 use 0.0000.
3.

4d. $
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