West Virginia Code 11-24-19 – Requirements concerning returns, notices, records and statements
(a) General. — The Tax Commissioner may prescribe regulations as to the keeping of records, the contents and form of returns and statements, and the filing of copies of federal income tax returns and determinations. The Tax Commissioner may require any corporation, by regulation or notice served upon such corporation, to make such returns, render such statements, or keep such records, as the Tax Commissioner may deem sufficient to show whether or not such corporation is liable under this article for tax.
Terms Used In West Virginia Code 11-24-19
- 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
- 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: includes a joint-stock company and any association or other organization which is taxable as a corporation under the federal income tax law. See West Virginia Code 11-24-3a
- including: when used in a definition contained in this article, do not exclude other things otherwise within the meaning of the term being defined. See West Virginia Code 11-24-3a
- person: means any individual, firm, partnership, general partner of a partnership, limited liability company, registered limited liability partnership, foreign limited liability partnership, association, corporation whether or not the corporation is, or would be if doing business in this state, subject to the tax imposed by this article, company, syndicate, estate, trust, business trust, trustee, trustee in bankruptcy, receiver, executor, administrator, assignee or organization of any kind. See West Virginia Code 11-24-3a
- state: means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or possession of the United States and any foreign country or political subdivision thereof. See West Virginia Code 11-24-3a
- tax: includes , within its meaning, interest and additions to tax, unless the intention to give it a more limited meaning is disclosed by the context. See West Virginia Code 11-24-3a
- Tax Commissioner: means the Tax Commissioner of the State of West Virginia or his or her delegate. See West Virginia Code 11-24-3a
- taxpayer: means any person subject to the tax imposed by this article. See West Virginia Code 11-24-3a
- this state: means the State of West Virginia. See West Virginia Code 11-24-3a
- Trustee: A person or institution holding and administering property in trust.
(b) Information at source. — The Tax Commissioner may prescribe regulations and instructions requiring returns of information to be made by any person, including lessees or mortgagors of real or personal property, fiduciaries, employers, and all officers and employees of this state, or of any municipal corporation or political subdivision of this state, having the control, receipt, custody, disposal or payment of interest, rents, salaries, wages, premiums, annuities, compensations, remunerations, emoluments or other fixed or determinable gains, profits or income, except interest coupons payable to bearer.
(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.
(d) Federal return information. — As 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.