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West Virginia Free Printable rbic-a for 2024 West Virginia Schedule RBICA Residential Historic Rehabilitated Buildings

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Schedule RBICA Residential Historic Rehabilitated Buildings
rbic-a

SCHEDULE RBIC-A RESIDENTIAL HISTORIC REHABILITATED BUILDINGS INVESTMENT CREDIT (For Investments Made After December 31, 1999) The purpose of the Residential Historic Rehabilitated Buildings Investment Credit is to encourage the restoration of buildings of historical significance within West Virginia. Obtain Publication TSD-380A for additional guidelines and procedures for claiming the credit. ELIGIBLE TAXPAYERS Eligibility for the Residential Historic Rehabilitated Buildings Investment Credit is limited to taxpayers making qualified rehabilitation project expenditures on nonincome producing properties on or after December 31, 1999 for a project located in West Virginia and receiving certification from the West Virginia Department of Culture and History for such expenditures. AMOUNT OF CREDIT A credit of twenty percent (20%) of the qualified expenditures for the rehabilitation of residential buildings designated by the West Virginia Department of Culture and History as “certified historic structures,” and further defined as a “qualified rehabilitated residential building,” may be taken against West Virginia Personal Income Tax. Excess credits may be carried forward for five years in a method identical to that provided for in the federal credit law. Only those credits qualifying after December 31, 1999 qualify for the carryforward treatment. The statute requires that the building or area be located within West Virginia to be eligible for the investment credit and requires review by the West Virginia Department of Culture and History. NOTE: You should attach a copy of your request for a final West Virginia Department of Culture and History certification (Form 10-168c) along with Schedule RBIC-A (Residential Historic Rehabilitated Buildings Investment Credit) to your state income tax return. INSTRUCTIONS Line 1. Enter the amount of qualified rehabilitation expenditures for residential certified historic structures located within West Virginia. Line 2. Enter the amount of qualified rehabilitation expenditures included on Line 1 that were incurred on or after December 31, 1999. Line 3. To calculate the credit, enter 20% of the amount shown on Line 2. Line 4. Enter the number assigned to the project by the West Virginia Department of Culture and History. In order to receive the credit, a copy of the request for final certification (Form 10-168c) should be attached. Line 5. Enter your West Virginia pre-credit tax liability for the current tax year. (Individuals - Form IT-140, Line 8); Line 6a. Enter amounts of all other allowable tax credits claimed on your return with the exception of Capital Company Credit. Line 6b. To determine your maximum credit offset, subtract the amount on Line 6a from the amount on Line 5. Line 7. To calculate the total allowed credit, enter the smaller of Line 3 or Line 6b. This is the Historic Rehabilitated Buildings Investment Credit allowed. Line 8. If you are unable to utilize all the credit because Line 6b is less than Line 3, you may elect to carry the excess forward for five years or until all allowable credit is used. To determine carryforward amounts available to offset future tax liabilities for the following years, subtract the amount on Line 7 from the amount on Line 3 and enter on Line 8. Form RBIC-A Rev. 01/01 SCHEDULE RBIC-A Residential Historic Rehabilitated Buildings Investment Credit (For Investments Made After December 31, 1999) Name Tax Identification Number Street Address City State Zip Code 1. Qualified rehabilitation expenditures for certified residential historic structures (attach certification certificate). ................................................................................................................. 2. Qualified rehabilitation expenditures incurred on or after December 31, 1999. ....................................... 3. Credit (Enter 20% of amount shown on Line 2). ...................................................................................... 4. Enter certification number. ........................................................................................................................ 5. Enter your pre-credit income tax liability. .................................................................................................. 6a. Enter amounts of other credits claimed (i.e. Tax paid to other States, Business Investment and Nonfamily Adoption) ........................................................................................ 6b. Subtract amount on Line 6a from the amount on Line 5. ......................................................................... 7. Total allowed credit - Enter smaller of Line 3 or Line 6b. This is your current year's credit ............................................................................................................... 8. Excess Credit To Be Carried Forward: Subtract amount on Line 7 from the amount on Line 3. ...........................................................................
Extracted from PDF file 2023-west-virginia-form-rbic-a.pdf, last modified March 2001

More about the West Virginia Form RBIC-A Corporate Income Tax Tax Credit TY 2023

We last updated the Schedule RBICA Residential Historic Rehabilitated Buildings in February 2024, so this is the latest version of Form RBIC-A, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form RBIC-A 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 PTE-100 Schedule A Income/Loss Modifications to Federal Pass-Through Income

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 Form RBIC-A from the Department of Revenue in February 2024.

Show Sources >

Form RBIC-A 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 Form RBIC-A

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



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