West Virginia Code 11-13FF-1 – Definitions
As used in this article:
Terms Used In West Virginia Code 11-13FF-1
- 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 Tax Commissioner of the State of West Virginia, or his or her delegate. See West Virginia Code 11-13FF-1
- Division: means the Tax Division of the Department of Revenue. See West Virginia Code 11-13FF-1
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Person: means every natural person, association or corporation. See West Virginia Code 11-22-1
- 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
- Vehicle: means a passenger motor vehicle that is suitable for daily commutes for employment purposes and is acceptable to the qualifying charitable organization as to its suitability for its program. See West Virginia Code 11-13FF-1
(1) “Commissioner” means the Tax Commissioner of the State of West Virginia, or his or her delegate.
(2) “Division” means the Tax Division of the Department of Revenue.
(3) “Low-Income Worker” means a person living in a household with total income at or below 200 percent of the Federal Poverty Level.
(4) “Program Value” means the fair market value of the vehicle less an amount to be determined by the qualifying charitable organization based upon the suitability of the vehicle to its program.
(5) “Qualified Charitable Organization” means a nonprofit association which:
(A) Is recognized as exempt from federal taxation under §501(c)(3) of the United States Code;
(B) Is registered as a charitable organization pursuant to § 29-19-1 et seq. of this code; and
(C) Operates a program that provides the following services:
(i) Providing low-income workers in the state with below-market, affordable financing to purchase vehicles through cooperating financial institutions; and
(ii) Providing financial counseling and other training and assistance to low-income workers to meet the terms of the loans used to purchase the vehicles through the program.
(6) “Vehicle” means a passenger motor vehicle that is suitable for daily commutes for employment purposes and is acceptable to the qualifying charitable organization as to its suitability for its program.