Get Form Fwv - Application For Farm Wineries And Vineyards Tax Credit

Filling out the Form FWV for the Farm Wineries and Vineyards Tax Credit can be straightforward with the right guidance. This comprehensive guide will assist you in completing the form accurately and efficiently, ensuring that you meet all necessary requirements.

Follow the steps to complete the application seamlessly.

1. Click ‘Get Form’ button to obtain the form and open it in your preferred editor.
2. Begin with Section I, where you will enter the taxpayer information. Fill in your business name, Federal Employer Identification Number (FEIN) or Social Security Number (SSN), and trading name. Provide your street address, city, state, ZIP code, email address, contact name, and phone number. Select your entity type by checking one of the options.
3. Move on to Section II for business information. Indicate whether your business qualifies as a Virginia farm winery or vineyard by checking the appropriate box.
4. In Section III, proceed to credit calculation. Enter the total amount of qualified capital expenditures. Be sure to attach Schedule A detailing each expenditure, its description, purchase date, and supplier. Note that you need to retain receipts for your records.
5. Calculate the total credit requested by multiplying the total expenditures by 25%. Ensure accuracy in your calculations.
6. Complete Section IV by providing a declaration and signature. Confirm that the information provided is true and correct, and fill out the authorized signature, title, date, printed name, phone number, email address, and fax number.
7. Lastly, ensure you save any changes made to the document. You can then download, print, or share the form as necessary.

Submit your application online to take advantage of the tax credit for your farm winery or vineyard.