The West Virginia Historic Rehabilitation Tax Credit Program offers a 25 percent credit for buildings eligible for federal credit after Dec 31, 2017.

• $5 million set aside for projects with less than $500,000 in QRE.
• Part 3 required within 36 months and for phased projects Part 2 required within 60 months.
• Rescinded credits can be reallocated by SHPO.
• Long-term lessee can receive the credit.
• Minimum investment: $5,000 or the adjusted gross basis.
• Recipient of credit must not be delinquent in payment of taxes.
• Commercial buildings entitled to carry forward 10 years.
• Carry backward: same as federal credit but after Jan 1, 2020 carry forward only.
• Recapture rules same as federal credit.
• The tax credits will be awarded on a first come, first served basis.
  

West Virginia Division of Culture and History