WV HB2160

Expands the manufacturing investment tax credit (equal to 5% of qualified manufacturing investment) to apply against personal income tax for pass-through entities, partnerships, LLCs, and sole proprietorships, effective January 1, 2025

Allows the manufacturing property tax adjustment credit to be claimed against personal income tax by owners of pass-through entities and sole proprietors on income directly derived from manufacturing activity in West Virginia

Limits the personal income tax credit reduction to no more than 40% of what would otherwise be owed, consistent with existing corporation net income tax limitations

Maintains existing requirements that the manufacturing investment tax credit be applied first against severance tax, then corporation net income tax, before personal income tax

Requires businesses with NAICS code 211112 (natural gas liquid extraction) to hire at least 75% of construction workers from the local labor market to qualify for credits