Schedule
                                                         ECONOMIC OPPORTUNITY CREDIT
EOTC-PIT                                    CLAIMS AGAINST PERSONAL INCOME TAX
Rev. 08/2022

                                                                                  Tax Period
                        From:                                                                          To:
                                           MM                 DD             YYYY                                         MM                                              DD                                       YYYY
Taxpayer’s  first name                                            Last name
                                                                                                                                                                             Your social security number

Spouse’s  first name (if joint return)                            Spouse’s last name (only if di fferent from name                                                                                                   ——
                                                                 given above)
                                                                                                                                                                          Spouse’s Social Security Number
Present home address                                                                                                                                                                                               ——

City                                                             State                             Zip code                                                                                                        Your telephone number

                                            Pˊ˛˝ I — Pˊ˜˜-Tˑ˛˘˞ːˑ E˗˝˒˝ˢ C˛ˎˍ˒˝ Cˊ˕ˌ˞˕ˊ˝˒˘˗
1.  a. Pass-through entity name...........................................................................................................................................
   b. Pass-through entity FEIN............................................................................................................................................

   c. Pass-through entity tax year (enter ending month, day, and year)..............................................................................                         /                                         /
2. West Virginia apportionment factor of the pass-through entity (express as a decimal to six places) (from Form PTE-100) ..............................
3. Project payroll factor expressed as decimal to six places (Form EOTC-1, line 5b or Form EOTC-HTM, line 11) ..............................................
4. Total credit available this year (Form EOTC-1, line 8. If using Form EOTC-HTM, leave blank) .........................................................................
Amount of Credit Applied
5.  a. Business and Occupation Tax (Form EOTC-1, line 7B or Form EOTC-HTM, line 12a) .............................................
   b. Corporate Net Income Tax (Form EOTC-1, line 7B or Form EOTC-HTM, line 12b ) .................................................
6.  Total Credit Applied (sum of lines 5a and 5b) ...................................................................................................................................................
7.  Credit Remaining (Line 4 less line 6)(If using Form EOTC-HTM, leave blank) ................................................................................................

                                                                 Pˊ˛˝ II — C           ˕ˊ˒˖˒˗ː ˝ˑˎ              C˛ˎˍ˒˝
1.  Shareholders Ownership Percentage Expressed as Decimal to six places (from Federal Form 1120S, Schedule K-1)....................................
2.  Shareholders Ordinary Income From the Pass-Through Entity (from Federal Form 1120S, Schedule K-1)......................................................
3.  West Virginia Apportioned Shareholders Ordinary Income (Part I, line 2 times Part II, line 2)............................................................................
4.  Credit available to shareholder (Part I, line 7 times line 1)(If using Form EOTC-HTM, leave blank) .................................................................
5. West Virginia Personal Income Tax  filer (check one):           Resident                         Non-resident/Part-Year resident                                         Other.........
6. West Virginia Income for credit purposes (IT-140  filers use West Virginia adjusted gross income; other  filers must calculate an equivalent 
   West Virginia gross income following the instructions).......................................................................................................................................
7.  Quali fied income fraction (express as decimal to six places; not greater than 1.0) (line 3 divided by line 6) ....................................................
8.  West Virginia Income Tax....................................................................................................................................................................................
9.  Tax attributable to quali fied business (Line 8 times line 7)..................................................................................................................................
10. Payroll factor (Part I, line 3)................................................................................................................................................................................
11.  Tax attributable to investment (line 9 times line 10)...........................................................................................................................................
12. Personal Income Tax offset factor (enter 0.80 unless new jobs have high median value [see instructions for additional information])
    (If using Form EOTC-HTM, enter 1.00) ...........................................................................................................................................................
13.  Tax subject to credit offset (line 11 times line 12).............................................................................................................................................
14.  Amount of tax credit applied (lesser of Part II, line 4 or line 13)(If using Form EOTC-HTM, use line 13) ......................................................

                                         EOTC-PIT
ECONOMIC OPPORTUNITY CREDIT CLAIMS AGAINST PERSONAL INCOME TAX

                                       GENERAL INFORMATION
To claim the credit, this schedule must be completed and filed with your Personal Income Tax return (Form IT-140). 
A properly completed Schedule EOTC-PIT must be accompanied by a copy of the West Virginia form EOTC-1 or   EOTC-
HTM completed by the pass-through entity providing the Personal Income Tax credit. A copy of Federal Form 1120S, 
Schedule K-1 must also be attached to the Schedule EOTC-PIT showing the percentage of ownership by the party claiming 
the credit. A Personal Income Tax taxpayer claiming credit from more than one pass-through entity must attach these 
documents for each pass-through entity from which credit is claimed.
Any taxpayer completing this schedule must provide a copy of the schedule to the pass-through entity through which the 
credit is claimed.

                           INSTRUCTIONS FOR SCHEDULE EOTC-PIT
PART I   PASS-THROUGH ENTITY CREDIT CALCULATION
Line 5   Enter the amount of the credit applied by the pass-through entity for each of the taxes listed. This information 
         may be found on the Form EOTC-1 or EOTC-HTM, in the row for each respective tax type.
PART II  CLAIMING THE CREDIT
Line 4   Each shareholder or partner is allocated the available credit based on their percentage of ownership of the 
         pass-through entity. EOTC-HTM filers should leave this line blank.
Line 6   Equivalent West Virginia Gross Income for non-resident/part-year filers.
         A. CALCULATE EQUIVALENT TAXABLE INCOME (ETI).
         1.  For taxpayers with  filing status 1 (single, head of household, or widow(er) with dependent child) or 
         fi ling status 2 (married  filing jointly). 
         If West Virginia Income Tax is zero, then ETI is zero;
         If West Virginia Income Tax is greater than zero and less than or equal to $300, the ETI is West Virginia 
         Income Tax divided by 0.0300;
         If West Virginia Income Tax is greater than $300 and less than or equal to $900, then ETI is $10,000 plus the 
         quantity obtained by subtracting $300 from the West Virginia Income Tax and dividing this result by 0.0400;
         If West Virginia Income Tax is greater than $900 and less than or equal to $1,575, then ETI is $25,000 plus the 
         quantity obtained by subtracting $900 from the West Virginia Income Tax and dividing this result by 0.0450;
         If West Virginia Income Tax is greater than $1,575 and less than or equal to $2,775, then ETI is $40,000 plus the 
         quantity obtained by subtracting $1,575 from the West Virginia Income Tax and dividing this result by 0.0600;
         If West Virginia Income Tax is greater than $2,775, then ETI is $60,000 plus the quantity obtained by subtracting 
         $2,775 from West Virginia Income Tax and dividing this result by 0.0650.
         2.  For taxpayers with  filing status 3 (married  filing separately):
         If West Virginia Income Tax is zero, then ETI is zero.
         If West Virginia Income Tax is greater than zero and less than or equal to $150, the ETI is West Virginia 
         Income Tax divided by 0.0300;
         If West Virginia Income Tax is greater than $150 and less than or equal to $450, then ETI is $5,000 plus the 
         quantity obtained by subtracting $150 from the West Virginia Income Tax and dividing this result by 0.0400;
         If West Virginia Income Tax is greater than $450 and less than or equal to $787.50, then ETI is $12,500 plus 
         the quantity obtained by subtracting $450 from the West Virginia Income Tax and dividing this result by 0.0450;
         If West Virginia Income Tax is greater than $787.50 and less than or equal to $1,387.50, then ETI is $20,000 plus 
         the quantity obtained by subtracting $787.50 from the West Virginia Income Tax and dividing this result by 0.0600;
         If West Virginia Income Tax is greater than $1,387.50, then ETI is $30,000 plus the quantity obtained by 
         subtracting $1,387.50 from West Virginia Income Tax and dividing this result by 0.0650.
         B. CALCULATE EQUIVALENT EXEMPTION VALUE (EEV).
         The equivalent exemption value is determined by multiplying the reported exemption value by the reported 
         income percentage.
         C. EQUIVALENT WEST VIRGINIA ADJUSTED GROSS INCOME.
         The Equivalent West Virginia Adjusted Gross Income is determined as the minimum of Total West Virginia 
         Income (from Form IT-140NR/PY) and the sum of the Equivalent Taxable Income (ETI) and the Equivalent 
         Exemption Value (EEV).

Line 12  Enter 0.80, unless the median salary of the new jobs is higher than the Statewide average nonfarm payroll 
         wage in which case enter 1.00. Entry of 1.00 must be substantiated by the attachment of the EOTC-1 filed by 
         the pass-through entity. EOTC-HTM filers enter 1.00. 
Line 14  Transfer the appropriate figure to the appropriate line on the Personal Income Tax return. EOTC-HTM filers 
         use line 13, tax subject to credit offset. 

               Information regarding this business credit schedule may be obtained by contacting the:

               West Virginia Tax Division
               Taxpayer Services
                                                    P.O. Box 3784
               Charleston, WV 25337-3784

               Telephone: (304) 558-3333 or
               Toll Free: 1-800-WVA-TAXS (1-800-982-8297)
               TDD Service for the hearing impaired: 1-800-2TAXTDD (1-800-282-9833)

               Form and publication can be found on our website at tax.wv.gov

Revised 08/2022