W. Va. Code R. § 110-13P-3

Current through Register Vol. XLI, No. 39, September 27, 2024

Section 110-13P-3 - Tax Credit Authorized

3.1. For taxable years beginning after December 31, 2001, each eligible taxpayer is authorized to annually take a Credit against the Health Care Provider Tax.

3.1.1. No eligible taxpayer may assert the Credit on any tax return due prior to July 1, 2002.

3.1.2. No Credit shall be allowed for any taxable year ending after December 31, 2004.

3.2. The amount of the Credit shall be equal to the lesser of:

3.2.1. Ten percent of the adjusted annual medical liability insurance premium for the taxpayer's specialty or subspecialty group; or

3.2.2. Ten percent of the taxpayer's actual annual medical liability insurance premium.

3.3. No Credit shall be allowed for any medical liability insurance premium paid on behalf of an eligible taxpayer employed by the state, its agencies or subdivisions or an eligible taxpayer organization pursuant to coverage provided under W. Va. Code §§ 29-12-1 et seq.

3.3.1. To the extent that only a portion of the medical malpractice liability insurance premium is paid on behalf of an eligible taxpayer employed by the state, its agencies or subdivisions and the remainder of the medical malpractice liability insurance premium is paid by the eligible taxpayer, that eligible taxpayer may use the actual amount of medical malpractice liability insurance premium paid by that eligible taxpayer when calculating the amount of Credit available under subsection 3.2 of this section. However, an eligible taxpayer may not use any of the premium paid on its behalf by the state, its agencies or subdivisions or an eligible taxpayer organization when calculating the amount of Credit available under subsection 3.2 of this section.

W. Va. Code R. § 110-13P-3