CIT-120: West Virginia Corporation Net Income Tax Return (2024)
West Virginia · WV Tax Division · Used for tax years 2024
Form CIT-120 is the 2024 West Virginia Corporation Net Income Tax Return. It reports adjusted corporation net income tax, payments, withholding, credits, and any tax due or overpayment.
What you'll need
Have the following information and applicable documents ready:
- Corporation name, FEIN, West Virginia corporation income tax account number, mailing address, and contact information.
- Tax period beginning and ending dates.
- The federal return included with your filing. The form lists Form 1120, pro forma 1120, Form 990, and Form 990T.
- Schedule 1, Schedule 2, or UB-CR, as applicable, for the adjusted corporation net income tax reported on line 9.
- Schedule D for all reportable entities listed on the form.
- Withholding statements for withholding reported on line 15, unless the withholding is from a nonresident sale of real estate (NRSR).
- Form 870 or 4549-A/B if filing an RAR return.
- Routing and account numbers if requesting direct deposit of a refund.
How to file
Complete the corporation information and check the applicable entity type, return type, and filing method boxes. Enter the tax, payment, and refund amounts, and complete the signature section.
Mail the return to:
West Virginia Tax Division
Tax Account Administration
PO Box 1202
Charleston, WV 25324-1202
The supplied form does not provide e-file instructions.
Common mistakes
- Leaving reportable entities off Schedule D. The form says all reportable entities must be included on Schedule D.
- Reporting withholding that does not match the statements. Line 15 must match the withholding statements unless the withholding is from NRSR. Check the NRSR box when applicable.
- Omitting documents for an RAR return. Form 870 or 4549-A/B must be provided.
- Entering incorrect bank account information. The form warns that incorrect account information may result in a $15.00 returned payment charge.
Questions people ask
Can I apply an overpayment to next year's tax?
Yes. Enter the amount of your line 23 overpayment to be credited to next year's tax on line 24. Line 25 is the amount to be refunded, calculated by subtracting line 24 from line 23.
Can I receive my refund by direct deposit?
Yes. The form has a direct deposit section where you select checking or savings and enter your routing and account numbers.
Can I authorize the Tax Division to discuss my return with my preparer?
Yes. The form includes a Yes/No choice authorizing the Tax Division to discuss your return with your preparer.
Which schedule is listed for a separate entity's activity?
The form lists Schedule 1 for wholly West Virginia activity and Schedule 2 for multistate activity.