WV HB2641

Creates a 100% tax credit against West Virginia personal income tax and corporate net income tax for employers' direct operational costs of running existing childcare facilities for their employees

Applies to childcare facilities located on employer premises within West Virginia, or within reasonable distance if on-site location is impractical, where children served are primarily employees' children

Unused tax credits may be carried forward for five years from the taxable year in which operational costs were incurred

Nonprofit corporations under IRC §501(c)(3) or §501(c)(6) may transfer, sell, or assign their calculated credits to other taxpayers, with Tax Department certification required within 90 days

Employers must certify employee names, childcare provider names, and other required information to the Tax Department; credit cannot exceed 100% of the taxpayer's income tax liability for the year