WVC 11 - 13 R- 8
§11-13R-8. Transfer of qualified research and development
investment to successors.
(a) Mere change in form of business.
-- Property may not be
treated as disposed of under section seven of this article, by
reason of a mere change in the form of conducting the business as
long as the property is retained in a business in this state for
use in qualified research and development, and the taxpayer retains
a controlling interest in the successor business. In this event,
the successor business is allowed to claim the amount of credit
still available with respect to the property transferred, and the
taxpayer (transferor) may not be required to redetermine the amount
of credit allowed in earlier years.
(b) Transfer or sale to successor. -- Property may not be
treated as disposed of under section seven of this article by
reason of any transfer or sale to a successor business which
continues to use the property in qualified research and
development. Upon transfer or sale, the successor shall acquire
the amount of credit that remains available under this article for
each subsequent taxable year, and the taxpayer (transferor) may not
be required to redetermine the amount of credit allowed in earlier
Note: WV Code updated with legislation passed through the 2015 Regular Session
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