West Virginia Code 11-23-14 – Requirements concerning returns, notices, records and statements
(a) General. — The Tax Commissioner may prescribe regulations as to the keeping of records, the content and form of returns and statements, and the filing of copies of federal income tax returns and determinations. The Tax Commissioner may require any person, by regulation or notice served upon such person, to make such returns, render such statements, or keep such records, as the Tax Commissioner may deem sufficient to show whether or not such person is liable for tax under this article.
Terms Used In West Virginia Code 11-23-14
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Commissioner: means the State Tax Commissioner. See West Virginia Code 11-22-1
- including: when used in a definition contained in this article shall not be deemed to exclude other things otherwise within the meaning of the term being defined. See West Virginia Code 11-23-3
- person: includes any corporation or partnership. See West Virginia Code 11-23-3
- state: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or possession of the United States, and any foreign country or political subdivision thereof. See West Virginia Code 11-23-3
- stock: includes shares in a corporation, association or joint-stock company. See West Virginia Code 11-23-3
- taxable year: means the calendar year, or the fiscal year ending during such calendar year, upon the basis of which tax liability is computed under this article. See West Virginia Code 11-23-3
- taxpayer: means any person (as defined in this section) subject to the tax imposed by this article. See West Virginia Code 11-23-3
- Trustee: A person or institution holding and administering property in trust.
(b) As a part of a full and complete tax return, the taxpayer shall provide:
(1) A copy of pages one through four of its signed, federal corporation income tax return or its signed federal partnership income tax return, as filed with the Internal Revenue Service for the taxable year; and
(2) If a consolidated federal income tax return was filed for the taxable year:
(A) Supporting schedules showing the consolidation of its income statement and balance sheets, including schedules supporting any eliminations and adjustments made to the income statement and balance sheets;
(B) A copy of Federal Form 851 as filed with the Internal Revenue Service and supporting schedules displaying any subsidiary corporations in which the taxpayer has stock ownership; and
(C) A signed statement explaining the relationship and differences, if any, between the income statement and the balance sheet reported for federal consolidated filing purposes and the income statement and the balance sheet reported to this state under the tax imposed by this article.
(c) Notice of qualifications as receiver, etc.
Every receiver, trustee in bankruptcy, assignee for benefit of creditors, or other like fiduciary shall give notice of his qualification as such to the Tax Commissioner, as may be required by regulation.