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West Virginia Free Printable U:PMFORMSCREDSCHSchccp97.PDF for 2024 West Virginia Capital Company Credit

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Form CCP is obsolete, and is no longer supported by the West Virginia Department of Revenue.

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Capital Company Credit
U:PMFORMSCREDSCHSchccp97.PDF

Rev. 11/97 A SCHEDULE CCP Name and Address of Individual/Business C D B Name and Address of Certified Capital Company E Tax Year Ending _____________ , ______ Social Security Number or FEIN Amount of Unused Credit from Prior Years Remaining Amount of _____ (Tax Year) Certified Capital Company Credit 1. Total Amount of Certified Capital Company Credit Assigned to This Individual/Business (Sum of Section D and Section E) ............... 2. Amount Used to Offset _____ (Tax Year) Business & Occupation Tax ... 3. Amount Used to Offset _____ (Tax Year) Severance Tax ......................... 4. Amount Used to Offset _____ (Tax Year) Telecommunications Tax ........ 5. Amount Used to Offset _____ (Tax Year) Business Franchise Tax ......... 6. Amount Used to Offset _____ (Tax Year) Corporation Net Income Tax ... 7. Amount Used to Offset _____ (Tax Year) Personal Income Tax .............. 1 2 3 4 5 6 7 8. Sum of Credits Against Tax (Add Lines 2 through 7) ......................................................................... 8 9. Balance of Unused Credit (Subtract Line 8 from Line 1) .................................................................... 9 WEST VIRGINIA CAPITAL COMPANY CREDIT The West Virginia Capital Company Act is designed to increase the availability of development capital to encourage and assist in the creation, development and expansion of businesses based in West Virginia. A Capital Company must be certified as such by the Board of Directors of the West Virginia Economic Development Authority. Private investment of venture and equity capital in the West Virginia economy is encouraged and promoted by making tax credits available to taxpayers investing in West Virginia Capital Companies. Any investor, including individuals, partnerships, and corporations, who makes a capital investment in a qualified West Virginia Capital Company after July 1, 1986 may claim a tax credit equal to fifty percent (50%) of the investment. The tax credit allowed is applied only after the application of all other available credits. Credit may be claimed against the following taxes in the order of listing shown: Business and Occupation Tax, Severance Tax, Telecommunications Tax, Business Franchise Tax, Corporation Net Income Tax and Personal Income Tax. The credit for investments made by a partnership or Sub-chapter S corporation may be divided pursuant to election of partners or shareholders, as specified in the West Virginia Capital Company's application to the West Virginia Economic Development Authority. The credit is claimed for the taxable year in which the investment is made. The amount of the credit that exceeds the tax liabilities may be carried forward for fifteen years. Taxpayers who qualify for this credit will receive certification from the Capital Company authorizing the amount of credit available. A true copy of that certification must be attached to the tax return. INSTRUCTIONS FOR SCHEDULE CCP Section A: Print your name and address in the space provided. Section B: Print the name and address of the certified Capital Company in which you invested. Section C: Enter your social security number (if an individual) or Federal Employer Identification Number (if a business). Section D: Enter the amount of unused credit from prior years that is available for application against taxes for the current year. Also note the year in which such credit was certified. Note that such credit remains only after its full application against State taxes during the year in which it was certified. Section E: Enter the amount of credit certified for the Capital Company assigned to this individual/business during the current tax year. Line 1: Enter the total amount of certified Capital Company credit available for the current tax year (the sum of the amounts shown in Sections D and E). Such credit is used to offset up to 100% of current tax year liabilities. Use Lines 2 through 7 to claim credit against current year taxes. The credit must be applied against taxes in the order shown (Business and Occupation Tax first, then Severance Tax, etc.). Note that the amount of all credits claimed may not exceed the sum of the current year tax liabilities. Line 8: Enter the sum of Lines 2 through 7. This number represents the total amount of credit applied against current taxes. Line 9: If there is credit remaining after application against the six listed State taxes, the remaining credit, which is entered on Line 9, is available for carryforward.
Extracted from PDF file 2021-west-virginia-form-ccp.pdf, last modified November 1997

More about the West Virginia Form CCP Corporate Income Tax Tax Credit

We last updated the Capital Company Credit in April 2022, and the latest form we have available is for tax year 2021. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the West Virginia Department of Revenue. 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 CCP from the Department of Revenue in April 2022.

Show Sources >

Form CCP 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 CCP

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


2021 Form CCP

U:PMFORMSCREDSCHSchccp97.PDF

2020 Form CCP

U:PMFORMSCREDSCHSchccp97.PDF

2016 Form CCP

U:PMFORMSCREDSCHSchccp97.PDF

2015 Form CCP

U:PMFORMSCREDSCHSchccp97.PDF

Capital Company Credit 2013 Form CCP

U:PMFORMSCREDSCHSchccp97.PDF

2012 Form CCP

U:PMFORMSCREDSCHSchccp97.PDF

2011 Form CCP

U:PMFORMSCREDSCHSchccp97.PDF


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