(1) A taxpayer is treated as having disposed of, during the taxable year, any certified eligible safety property which the taxpayer cannot establish was still on hand and used in a coal mine in this state at the end of that year; and
(2) If a taxpayer cannot establish when certified eligible
safety property reported for purposes of claiming this credit
returned during the taxable year was placed in service, the
taxpayer is treated as having placed it in service in the most
recent prior year in which similar property was placed in service,
unless the taxpayer can establish that the property placed in
service in the most recent year is still on hand and used in a coal
mine in this state at the end of that year. In that event, the
taxpayer will be treated as having placed the returned property in
service in the next most recent year.
Note: WV Code updated with legislation passed through the 2013 1st Special Session
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