SCHEDULE RBIC 
  HISTORIC REHABILITATED BUILDINGS INVESTMENT CREDIT 
                             (For Investments Made After June 6, 1990) 

  The   purpose   of   the   Historic   Rehabilitated   Buildings   Investment   Credit   is   to   encourage   the 
  restoration   of   buildings   of   historical   significance   within   West   Virginia.   Obtain   Publication 
  TSD-380 for additional guidelines and procedures for claiming the credit. 

  ELIGIBLE TAXPAYERS 
  Eligibility   for   the   Historic   Rehabilitated   Buildings   Investment   Credit   is   limited   to   taxpayers 
  making  qualified  rehabilitation  project  expenditures  on  income  producing  properties  on  or  after 
  June  6,  1990  for  a  project  located  in  West  Virginia  and  receiving  certification  from  the  National 
  Park Service for such expenditures. 

  AMOUNT OF CREDIT 
  A  credit  of  ten  percent  (10%)  of  the  qualified  expenditures  for  the  rehabilitation  of  residential  and 
  nonresidential  buildings  designated  by  the  National  Park  Service,  United  States  Department  of 
  the   Interior   as   “certified   historic   structures,”   and   further   defined   as   a   “qualified   rehabilitated 
  structure,”   may   be   taken   against   West   Virginia   Personal   Income   Tax   and   West   Virginia 
  Corporation   Net   Income   Tax.   Projects   for   which   an   application,   Part   2-Description   of 
  Rehabilitation,  was  received  by  the  state  historic  preservation  office  after  December  31, 
  2017   are   eligible   for   an   increased   credit   of   twenty-five   percent   (25%)   for   qualified 
  investments  occurring  after  December  31,  2017.   However,  the  twenty-five  percent  credit 
  earned  for  qualified  rehabilitation  expenditures  after  December  31,  2017,  may  not  be  used 
  to  offset  tax  liabilities  of  the  taxpayer  prior  to  tax  years  beginning  on  or  after  January  1, 
  2020.   Unused  credits  for  expenditures  before  2018  (10%)  may  be  carried  back  for  one  year 
  and  then  carried  forward  for  twenty  years  in  a  method  identical  to  that  provided  for  in  the  federal 
  credit  law.  Unused  credits  for  tax  years  after  2017  (25%)  and  available  for  use  beginning  on  or 
  after  January  1,  2020   cannot   be  carried  back  to  a  prior  year  but  can  be  carried  forward.  Credits 
  are  typically  treated  as  first  in,  first  out  (FIFO).   Credits  carried  forward  from  prior  periods  MUST 
  be  used  first.  The  statute  requires  that  the  building  or  area  be  located  within  West  Virginia  to  be 
  eligible  for  the  investment  credit  and  requires  review  by  the  West  Virginia  Department  of  Culture 
  and  History.  Effective  for  rehabilitations  completed  after  July  1,  2022,  the  West  Virginia  State 
  Historic  Preservation  Office  shall  permit  approved  projects  to  follow  a  phased  rehabilitation  plan 
  that is consistent with phasing guidance issued by the National Park Service. 

  NOTE:   In  order  to  claim  the  West  Virginia  Historic  Rehabilitated  Buildings  Investment  Credit, 
  you  must  also  qualify  for  the  Federal  Certified  Historic  Structures  Credit.  You  should  attach  a 
  copy  of  your  request  for  a  final  National  Park  Service  (NPS)  certification  (NPS  Form  10-168c)  or 
  Phase   Advisory   Determination   (NPS   Form   10-168b)   along   with   Schedule   RBIC   (Historic 
  Rehabilitated Buildings Investment Credit) to your state income tax return. 

  Revised August 2022                                                             Page  1  of  3 

                                       SCHEDULE RBIC 
  HISTORIC REHABILITATED BUILDINGS INVESTMENT CREDIT 
                         (For Investments Made After June 6, 1990) 
                                       INSTRUCTIONS 
  Line  1.      Enter   the   amount   of   qualified   rehabilitation   expenditures   for   certified   historic 
                structures  located  within  West  Virginia  that  were  incurred  on  or  after  June  6,  1990  and 
                on or before December 31, 2017. 
  Line 2.       To calculate the credit earned, enter 10%  of the amount shown on Line 1. 
  Line  2a.   Enter   the   amount  of  10%  credit  earned  on  Line  2  which  has  been  claimed  in  prior 
                years or transferred/sold to another taxpayer. 
  Line 2b.   To calculate the 10% credit available, subtract Line 2a from Line 2. 
  Line 3.       Enter the amount of qualified rehabilitation  expenditures that were incurred after 
                December   31,   2017   for   projects   whose  applications,  Part  2,  were  submitted  to  the 
                state preservation office after December 31, 2017. 
  Line 4.       To calculate the credit earned, enter 25% of the amount shown on Line 3. 
  Line  4a.   Enter   the   amount  of  25%  credit  earned  on  Line  4  which  has  been  claimed  in  prior 
                years or transferred/sold to another taxpayer. 
  Line 4b.   To calculate the 25% credit available, subtract Line 4a from Line 4 
  Line 5.       Add lines 2b and 4b. 
  Line  6.      Enter  the  number(s)  assigned  to  the  project(s)  by  the  National  Park  Service.  In  order 
                to   receive   the   credit,   a   copy   of   the   request   for   final   National   Park   Service   (NPS) 
                certification   (NPS   Form   10-168c)   or  the  Phase  Advisory  Determination  (NPS  Form 
                10-168b) should be attached. 
  Line  7.      Enter   the   identifying   number   of  the  flow-through  entity  in  the  space  provided  if  the 
                credit  is  a  flow-through  resulting  from  an  investment  by  a  partnership,  S  corporation, 
                estate, or trust. 
  Line  8.      Enter  your  West  Virginia  pre-credit  tax  liability  for  the  current  tax  year.  (Individuals  - 
                Form IT-140, Line 8); (Corporations – Form WV\CNT-112, Line 7). 
  Line 9   a.   Enter amounts of all other allowable tax  credits claimed on your return. 
  Line  9b.   To  determine  your  maximum  credit  offset,  subtract  the  amount  on  Line  9a  from  the 
                amount on Line 8. 
  Line  10.   To  calculate  the  total  allowed  credit,  enter  the  smaller  of  Line  5  or  Line  9b.  This  is  the 
                Historic Rehabilitated Buildings Investment Credit for the current tax year. 
  Line  11.   To  calculate  the  excess  10%  credit  available  for  carryback  to  the  prior  year,  subtract 
                the amount of Line 10 attributable to line 2 (10% credit) from the amount on Line 2b. 
  Line  12.   If,  after  application  of  tax  credit  to  the  current  year’s  income  tax  liability,  credit  remains 
                on  Line  11,  this  may  be  used  to  eliminate  the  tax  liability  for  the  past  year  (10%  credit 
                only). 
  Line  13a.  To  determine  the  10%  credit  carryforward,  subtract  any  carryback  credit  claimed  on 
                Line 12 from the excess 10% credit on Line 11. 
  Line  13b.  To  determine  the  25%  credit  carryforward,  subtract  the  amount  of  Line  10  attributable 
                to line 4 (25% credit) from Line 4b. 

  Revised August 2022                                                                          Page  2  of  3 

                                                 SCHEDULE RBIC 
         HISTORIC REHABILITATED BUILDINGS INVESTMENT CREDIT 
                               (For Investments Made After June 6, 1990) 

  Name                                                                            Identification Number 
  Street Address 
  City                                                        State                                            Zip 

  1      Qualified   Rehabilitation   expenditures   for   certified   Historic   structures 
         incurred on or after June 6, 1990 and on or before December 31, 2017                            1 
  2      Credit earned (Enter 10% of amount shown on Line 1). 
                                                                                                         2 
  2a.    Enter  the  amount  of  10%  credit  earned  on  Line  2  which  has  been  claimed 
         in prior years or transferred to another taxpayer. 
                                                                                                         2a 
  2b.    Subtract Line 2a from Line 2. This is your available 10% credit 
                                                                                                         2b 
  3      Qualified rehabilitation expenditures incurred after December 31, 2017 
         (For applications, Part 2, submitted after December 31, 2017 only) 
                                                                                                         3 
  4      Credit earned (Enter 25% of amount shown on Line 3). 
                                                                                                         4 
  4a.    Enter  the  amount  of  25%  credit  earned  on  Line  4  which  has  been  claimed 
         in prior years or transferred to another taxpayer. 
                                                                                                         4a 
  4b     Subtract Line 4a from Line 4. This is your available 25% credit 
                                                                                                         4b 
  5      Total credit available (add lines 2b and 4b) 
                                                                                                         5 
  6      Enter   National   Park   Service   number(s)   (National   Park   Service 
         Certification(s) or Phase Advisory Determination must be attache   d) 
                                                                                                         6 
  7      Enter the flow-through entity’s identifying number, if applicable. 
         (See Instructions) 
                                                                                                         7 
  8      Enter your pre-credit income tax liability. 
                                                                                                         8 
  9a     Enter  amounts  of  all  other  allowable  credits  claimed  (i.e.  Tax  paid  to  other 
         States, Small Business, Military Employment, and Economic Opportunity) 
                                                                                                         9a 
  9b     Subtract amount on Line 9a from the amount on Line 8 
                                                                                                         9b 
  10     Total allowed credit - Enter smaller of Line 5 or Line 9b.   (This is your credit) 
                                                                                                         10 
  11     Excess 10% Credit 
         Subtract  the  amount  on  Line  10  attributable  to  line  2  (10%  credit)  from  the 
         amount on Line 2b                                                                               11 
  12     Credit Carryback: 
         Enter  the  amount  from  Line  11  carried  back  to  last  year.  (Not  available  for 
         25% credit earned on expenditures made after December 31, 2017)                                 12 
  13a    Credit  Carryforward  for expenditures before 2018 (10%): 
         Subtract   the   credit   carryback   on   Line   12   from   Line   11.   This   is   your 
         remaining 10% credit for carryforward                                                           13a 
  13b    Credit Carryforward f  or  expenditures after 2017 (25%): 
         Subtract   the   total   claimed   on   Line   10   attributable   to   line   4   from   the 
         amount on Line 4b. This is your remaining 25% credit for carryforward                           13b 

         Revised August 2022                                                                                         Page  3  of  3