Economic Opportunity Tax Credit Adjustments

The statewide average nonfarm payroll wage is $41,655 for calendar years beginning on and after January 1, 2017. Administrative Notice 2016-23

The median compensation of new jobs attributable to qualified investment in a high technology manufacturing business is $52,400 for taxable years beginning on and after January 1, 2017. Administrative Notice 2016-24

Small business means, for taxable years beginning on and after January 1, 2017, a business that has annual gross receipts of $9,349,750 or less. Administrative Notice 2016-25

When a business would qualify for the economic opportunity credit but cannot meet the new jobs threshold, the business may be eligible for credit under W. Va. Code § 11-13Q-22 if each new job pays at least $35,700 annually. Administrative Notice 2016-26