Get Eotc Pit Form

This guide provides a step-by-step approach to filling out the Eotc Pit Form online. Whether you are a first-time user or need a refresher, these instructions will help you navigate the necessary fields and sections with ease.

Follow the steps to complete your Eotc Pit Form.

1. Click ‘Get Form’ button to obtain the Eotc Pit Form and open it in the appropriate editor.
2. Enter the tax period dates at the top of the form, specifying both the start and end dates.
3. Fill in your first and last name, followed by your social security number. If filing jointly, include your partner's first name and their social security number as well.
4. Provide your current home address, including city or town, state, and zip code.
5. Complete Part I for the pass-through entity credit calculation by entering the entity name, FEIN, and tax year.
6. Input the West Virginia apportionment factor and project payroll factor as specified on the included forms.
7. Calculate and enter the total credit available for the year, followed by the amounts for business and occupation tax, business franchise tax, and corporate net income tax.
8. Sum the amounts from the previous step to determine the total credit applied and calculate the amount of credit remaining.
9. Move to Part II and enter the shareholders' ownership percentage and ordinary income from the pass-through entity using the provided documentation.
10. Calculate the credit available to shareholders and document the West Virginia income for credit purposes.
11. Calculate the qualified income fraction and the tax attributable to the qualified business.
12. Finally, determine the tax subject to credit offset and the amount of tax credit applied. Review all entered information for accuracy.
13. Once all fields are complete, users can save changes, download, print, or share the completed form.

To ensure your claim is processed smoothly, complete and submit the Eotc Pit Form online today.