Tax & Accounting Blog

2014 West Virginia Industrial Business Property Return Requirements, Filing Address and Extension

Blog, ONESOURCE, ONESOURCE Property Tax July 22, 2014

West Virginia law provides that all industrial property owners must file the WV STC 12:32I Industrial Business Property Return. Industrial property, as defined in WV Code § 11-1c-10, is any real and personal property, integrated as a functioning unit intended for the assembling, processing and manufacturing of finished or partially finished goods. An individual return must be filed for each industrial location within West Virginia and include a fixed asset listing or depreciation schedule and balance sheet.

New for 2014, the WV STC12:32I Industrial Business Property Return will be filed to one of three business offices (Beckley, Charleston or Clarksburg) instead of one central state office.  The new office location and mailing address will appear on the original return taxpayers receive by mail from the West Virginia State Tax Department. The STC 12:32I  return must be filed no later than August 1, 2014 in order to avoid a late filing penalty.

A filing extension may be granted if taxpayers fill out and submit the Industrial Taxpayer Request for Filing Extension before Friday, July 25, 2014. The extension request can be found at: http://www.wva.state.wv.us/wvtax/propertyTax/FormsAndPublications.aspx