WVC 11 - 13 U- 6
An eligible taxpayer that fails to maintain a qualified
investment for the required period of time stated in section five
of this article shall pay to the state tax commissioner a penalty
equal to all of the tax credits asserted under this article by the
eligible taxpayer with interest, calculated at the rate set forth
in section seventeen-a, article ten of this chapter, from the date
the tax credits were certified as allocated to the eligible
taxpayer. The tax commissioner shall give notice to the eligible
taxpayer of any penalties imposed under this section. The penalty
shall be assessed and collected in the same manner as tax. The tax
commissioner shall deposit any amounts received under this
subsection in the general revenue fund.
Note: WV Code updated with legislation passed through the 2016 Regular Session
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