Terms Used In West Virginia Code > Chapter 11 > Article 13Y - The West Virginia Manufacturing Property Tax Adjustment Act

• Affiliate: means and includes all persons, as defined in this section, which are affiliates of each other when either directly or indirectly:

  (A) One person controls or has the power to control the other, or

  (B) A third party or third parties control or have the power to control two persons, the two thus being affiliates. See West Virginia Code 11-13Y-2

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Association: means a partnership, limited partnership or any other form of unincorporated enterprise, owned or conducted by two or more persons. See West Virginia Code 11-22-1
• Commissioner: means the State Tax Commissioner. See West Virginia Code 11-22-1
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Corporation: means any corporation, joint-stock company or association and any business conducted by a trustee or trustees wherein interest or ownership is evidenced by a certificate of interest or ownership or similar written instrument. See West Virginia Code 11-13Y-2
• Delegate: when used in reference to the Tax Commissioner, means any officer or employee of the Tax Division of the Department of Revenue duly authorized by the Tax Commissioner directly, or indirectly by one or more redelegations of authority, to perform the functions mentioned or described in this article. See West Virginia Code 11-13Y-2
• Eligible taxpayer: means any manufacturing business that is subject to the tax imposed under article twenty-three or twenty-four of this chapter, or both: Provided, That taxpayers owning property assessed by the board of Public Works are not eligible taxpayers for purposes of this article. See West Virginia Code 11-13Y-2
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• individual: means a human being. See West Virginia Code 11-13Y-2
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Limited liability company: means a limited liability company organized under the laws of this state, the United States or by any other state, territory or the District of Columbia. See West Virginia Code 11-22-1
• Manufacturing business: means any business primarily engaged in business activity classified as having a sector identifier, consisting of the first two digits of the six-digit North American Industry Classification System code number, of thirty-one, thirty-two or thirty-three that also paid ad valorem property tax on manufacturing inventory to one or more West Virginia counties during the taxable year. See West Virginia Code 11-13Y-2
• Manufacturing inventory: means and is limited to raw materials, goods in process and finished goods of a business primarily engaged in business activity classified as having a sector identifier, consisting of the first two digits of the six-digit North American Industry Classification System code number, of thirty-one, thirty-two or thirty-three. See West Virginia Code 11-13Y-2
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means and includes any natural person, corporation, limited liability company or partnership. See West Virginia Code 11-13Y-2
• State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Tax Commissioner: means the Tax Commissioner of the State of West Virginia or the Tax Commissioner'. See West Virginia Code 11-13Y-2
• Tax year: means the calendar year following the July first assessment day or, in the case of a public service business assessed pursuant to article six of this chapter, the calendar year beginning on the January first assessment day. See West Virginia Code 11-5-3
• taxable year: means the tax year of the taxpayer for federal income tax purposes. See West Virginia Code 11-13Y-2
• Taxpayer: means any person subject to the tax imposed under article twenty-three or twenty-four of this chapter, or both. See West Virginia Code 11-13Y-2
• Trustee: A person or institution holding and administering property in trust.
• Unitary business: means a unitary business as defined in section three-a, article twenty-four of this chapter. See West Virginia Code 11-13Y-2
• Value: means in the case of any document not a gift, the amount of the full actual consideration for the document, paid or to be paid, including the amount of any lien or liens assumed. See West Virginia Code 11-22-1