West Virginia Electric and Gas Utilities Rate Reduction Credit

Electric and Gas Utilities Rate Reduction Credit
Schedule LSchedule L - Electric, Natural Gas, Sewer, and Water Utilities Rate Reduction Credit

Rev. March 2019

Electric, Natural Gas, Sewer, and Water Utilities Rate Reduction Credit
Public utilities who provide electric and gas utility service at special reduced rates to low income residential customers for the billing
months of December through April, or who provide water and/or sewer utility service at approved special reduced rates to certain lowincome residential customers in any month, are eligible to claim the credit. The West Virginia Public Service Commission will determine
the revenue deficiency resulting from the reduced rates and certify the amount of allowable credit.

A copy of the certification order must be attached to the return on which the credit is claimed.
An eligible taxpayer may claim the credit on the annual return for the taxable year in which it receives certification.
However, the credit is first claimed against the West Virginia Business and Occupation Tax liability, then against West Virginia
Corporation Net Income Tax liability. Any portion of the credit then remaining may be carried over to the next year's Business and
Occupation Tax liability and is applied before any other credits for that year. There is no provision for carryover to the Corporation Net
Income Tax.

Instructions
Column 1 Enter the total amount of the revenue deficiency as certified by the Public Service Commission.
Column 2 Enter the amount claimed as a credit against your Business and Occupation Tax liability.
Column 3 Subtract the amount in Column 2 from the amount in Column 1 and enter the difference.
Column 4 Enter the amount being claimed as a credit against your Corporation net Income Tax.
Column 1, minus Columns 2 and 4, is the amount available to be carried over as a credit against Business and Occupation Tax liability
in the subsequent year.
Please note that the total amount of all
reduce any tax liability below zero.

credits claimed may not exceed the amount of the certified revenue deficiency and may not

Business Name

Column 1
Amount certified as revenue
deficiency by Public
Service Commission

Account Identification Number

Column 2
Amount
of
deficiency
claimed as Business and
Occupation Tax Credit

Column 3
Amount available for
Corporation Net
Income Tax Credit

Column 4
Amount claimed as
Corporation Net
Income Tax Credit

Include the amount in Column 2 or Column 4 on the appropriate line of the tax form being filed. This schedule must be attached to your
return.

Extracted from PDF file 2023-west-virginia-schedule-l.pdf, last modified December 1969

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More about the West Virginia Schedule L Corporate Income Tax Tax Credit TY 2023

The form is for companies that offer a reduced rate to low-income families.

We last updated the Electric and Gas Utilities Rate Reduction Credit in February 2024, so this is the latest version of Schedule L, fully updated for tax year 2023. You can download or print current or past-year PDFs of Schedule L directly from TaxFormFinder. You can print other West Virginia tax forms here.

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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 Nonresident

Download all WV tax forms 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 Schedule L from the Department of Revenue in February 2024.

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Schedule L 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 Schedule L

We have a total of eleven past-year versions of Schedule L in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:

2023 Schedule L

2022 Schedule L

2021 Schedule L

2020 Schedule L

2019 Schedule L

2018 Schedule L