WV SB621

Creates a 100% tax credit against West Virginia corporate net income tax and personal income tax for operational costs of existing employer-provided or employer-sponsored child care facilities located in the state.

Credit amount equals total operational expenditures minus any amounts paid by employees, with jointly-owned facilities limiting each employer's credit to their respective contribution.

Credit cannot exceed 100% of the taxpayer's income tax liability for the year, with unused credits carrying forward for five years.

Non-profit corporations (501(c)(3) and 501(c)(6) organizations) may transfer, sell, or assign their certified credits to other taxpayers since they are tax-exempt.

Employers must certify employee names, child care provider information, and other required details to the Tax Department to qualify for the credit.