State historic tax credit programs

West Virginia Historic Rehabilitation Tax Credit Program

Program overview:

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

Annual cap: $30 million.

Per-project cap: $10 million.

Program details:

  • $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  • Rescinded credits can be reallocated by SHPO.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.
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