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Details:
1)There is now a checkbox available for taxpayers filing an Amended return who wish to cancel the original delayed debit transaction (this will only work if the Amended return is filed before the debit transaction was set to occur).
2)Taxpayers who are eligible to claim the Senior Citizen Tax Credit will now enter the allowable credit on line 15 of Form IT-140 and will no longer need to enter the amount on the Tax Credit Recap Schedule.
3)Autism Modification (Schedule M) – For tax years beginning January 1, 2011, a modification has been created to reduce federal adjusted gross income for qualifying contributions to a qualified trust maintained for the benefit of a child with autism.
4)Commercial Patent Incentives Tax Credit (§11-13AA) – For tax years beginning on or after January 1, 2011, the Commercial Patent Incentives Tax Credit is available for the following: (1) the development, in West Virginia, of plant patent, design patent, or patents for direct use in a manufacturing process or product, (2) the use of a patent in a manufacturing process or product in West Virginia when the patent was developed in West Virginia.
5)Alternative Fuels Credit (§11-6D) – For tax years beginning on or after January 1, 2011, the Alternative-Fuel Tax Credit is available for (1) the purchase of a new dedicated or bi-fueled alternative-fuel motor vehicle for which the purchaser then obtains a valid West Virginia vehicle registration, (2) the conversion of a motor vehicle that is presently registered in West Virginia to operate exclusively on an alternative fuel, (3) the construction or purchase and installation of a qualified alternative fuel vehicle home refueling infrastructure in West Virginia that is capable of dispensing alternative fuel for alternative-fuel motor vehicles, (4) the construction or purchase and installation of a qualified alternative fuel vehicle refueling infrastructure in West Virginia that is capable of dispensing alternative fuel for alternative-fuel motor vehicles.
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