SCHEDULE 
                                                   NATURAL GAS LIQUIDS                                                     West Virginia 
    NGL-1                       PROPERTY TAX ADJUSTMENT CREDIT                                                             State Tax Department
    REV07-2021         For Eligible Businesses engaged in the storage or transportation of Natural Gas Liquids
                                                   (For tax periods beginning on or after July 1, 2020)
In order to claim the Natural Gas Liquids Property Tax Adjustment Credit, the claimant must be in the business of transportation or storage of natural gas 
liquids and also have paid Ad Valorem Property Tax on equipment or inventory, used in the transportation or storage of natural gas liquids, to one or more 
West Virginia Counties during the taxable year.
                                               SECTION A: BUSINESS IDENTIFICATION 
                                                                                       NORTH AMERICAN INDUSTRY 
 1  FEIN                                  WV TAX ID                                    CLASSIFICATION SYSTEM CODE  
                                                                                       (Enter 6-digit NAICS Code Number)
                                                              TAX PERIOD
 2  BEGINNING                                                           ENDING
               MM               DD                   YYYY                                   MM             DD                       YYYY
    NAME OF ENTITY WHICH EARNED THE CREDIT
 3
    ADDRESS

 4  CITY                                                                               STATE                            ZIP

         SECTION B: NATURAL GAS LIQUIDS PROPERTY TAX ADJUSTMENT CREDIT CALCULATION
 1  QUALIFIED BUSINESS ACTIVITY:
         ‘NATURAL GAS LIQUIDS TRANSPORTER’ DEFINED AS A PERSON WHO OWNS OR OPERATES PIPELINE FACILITIES USED FOR THE TRANSPORTATION AND DELIVERY 
         OF NGLS FOR STORAGE, USE IN MANUFACTURING OR CONSUMPTION, BUT DOES NOT INCLUDE PIPELINES USED FOR THE TRANSPORTATION OF NATURAL GAS 
         THAT MAY INCLUDE SOME NGLS AS PART OF THE GAS STREAM.
         ‘NATURAL GAS LIQUIDS STORER’ DEFINED AS A PERSON WHO OWNS OR OPERATES ONE OR MORE UNDERGROUND FACILITIES DESIGNED AND DEVELOPED FOR 
         THE RECEIPT, STORAGE AND SUBSEQUENT DELIVERY OF NGLS FOR USE IN MANUFACTURING OR CONSUMPTION.
 2  AVAILABLE CREDIT-  AMOUNT OF WEST VIRGINIA  AD VALOREM PROPERTY  TAX PAID ON  THE VALUE OF INVENTORY  AND 2
    EQUIPMENT OF THE ELIGIBLE TAXPAYER DURING THE APPLICABLE TAX YEAR (ENTER THE SUM OF AMOUNTS ON LINE 17 OF 
    THE ATTACHED SECTION C. CREDIT CLAIMS WITHOUT COMPLETED SECTION C WILL BE DENIED)
 3  CREDIT FROM PRIOR PERIODS  (EXCESS CREDIT MAY BE CARRIED  YEAR(S) :                                       3
    FORWARD FOR UP TO THREE SUBSEQUENT TAXABLE YEARS)

 4  TOTAL AVAILABLE CREDIT (ADD LINE 2 AND LINE 3)                                                            4

 5  CORPORATE NET INCOME TAX LIABILITY                                                                        5

 6  TOTAL OF OTHER TAX CREDITS APPLIED AGAINST CORPORATE NET INCOME TAX                                       6

 7  ADJUSTED CORPORATE NET INCOME TAX LIABILITY (LINE 5 MINUS LINE 6)                                         7
    NATURAL GAS LIQUIDS PROPERTY  TAX ADJUSTMENT CREDIT  TO BE APPLIED AGAINST CORPORATION NET INCOME  TAX 
 8  LIABILITY ENTER SMALLER OF: (A) THE AMOUNT ON LINE 4; OR (B) THE AMOUNT ON LINE 7.                        8
    ALSO, ENTER THE VALUE ON SUMMARY OF CORPORATION NET INCOME TAX CREDITS (FORM CIT-120TC).
    NATURAL GAS LIQUIDS PROPERTY TAX ADJUSTMENT CREDIT AVAILABLE TO BE APPLIED TO PERSONAL INCOME TAX
 9  (INDIVIDUAL SHAREHOLDERS WILL ALSO NEED TO FILE A PERSONAL INCOME TAX CREDIT SCHEDULE)                    9
    LINE 4 MINUS LINE 8
 10 NATURAL GAS LIQUIDS PROPERTY TAX ADJUSTMENT CREDIT APPLIED TO PERSONAL INCOME TAX                         10

 11 REMAINING CREDIT FOR CARRYOVER TO NEXT YEAR                                                               11

                                                    SECTION E: SIGNATURE
 Under penalty of perjury, I declare that I have examined this credit claimed form (including accompanying schedules and statements) and to the best of my knowledge it is true, and complete..

              SIGNATURE OF TAXPAYER                  NAME OF TAXPAYER (PRINT OR TYPE)                         TITLE        DATE

    SIGNATURE OF PREPARPER OTHER THAN TAXPATER                                         ADDRESS                             DATE

                       PERSON TO CONTACT CONCERNING THIS RETURN                                                            TELEPHONE

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   SCHEDULE NGL-1 (continued) 

Each tax payment (e.g., full-year, first-half, second-half) made during the Business taxable year (not the Property Tax taxable year) must be listed 
separately. Also, information from each individual Property Tax statement included in a single payment must be listed separately.

   SECTION C: AD VALOREM PROPERTY TAX ON EQUIPMENT OR INVENTORY PAID TO WEST VIRGINIA 
                                            COUNTIES DURING THE TAXABLE YEAR:
1  TAX PAYMENT NUMBER

2  NAME OF BUSINESS/AFFILIATE PAYING WEST VIRGINIA 
   PROPERTY TAX ON NATURAL GAS LIQUIDS STORAGE 
   OR TRANSPORTATION EQUIPMENT OR INVENTORY

3  WEST VIRGINIA COUNTY TO WHICH TAX WAS PAID

4  WEST VIRGINIA MUNICIPALITY IN WHICH EQUIPMENT 
   OR INVENTORY IS LOCATED IF APPLICABLE

5  PROPERTY TAX YEAR

6  PROPERTY TAX TICKET NUMBER

7  VALUE OF INVENTORY

8  VALUE OF EQUIPMENT

9  VALUE OF FREEPORT EXEMPTION

10 ADJUSTED VALUE OF INVENTORY AND EQUIPMENT

11 PROPERTY TAX ASSESSMENT FACTOR                  0.6                       0.6                                                 0.6

12 NGL INVENTORY AND EQUIPMENT ASSESSMENT 
   LINE 10 TIMES THE ASSESSMENT FACTOR

13 PROPERTY TAX RATE (CENTS PER $100)

14 FULL-YEAR INVENTORY AND EQUIPMENT TAX

   IF FULL-YEAR TAX WAS PAID DURING THE TAX YEAR 
15 ENTER 1.0; 
   IF ONE-HALF YEAR TAX WAS PAID ENTER 0.5; 
   OTHERWISE 0.0 
16 NLG INVENTORY AND EQUIPMENT TAX PAID (AMOUNT 
   ON LINE 14 MULTIPLIED BY THE VALUE FROM LINE 15)

17 TOTAL NGL INVENTORY AND EQUIPMENT TAX PAID $

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