CIT-120OPT: Election to Report Based on Worldwide Unitary Combined Basis (Revision 2021-01)
West Virginia · WV Tax Division · Used for tax years 2026
West Virginia Form CIT-120OPT lets a company elect to report on a worldwide unitary combined basis. It records the company name, FEIN, tax period, and authorized signature. The election is binding for ten years, with early withdrawal allowed only under the stated conditions and w
Who files this form
CIT-120OPT is for a taxpayer electing to report on a worldwide unitary combined basis under §11-24-13f of the West Virginia Code. The form does not state who is required to make this election.
What you'll need
The form asks for:
- Tax year
- Company name and FEIN
- Beginning and ending dates of the tax period
- Authorized signature, printed name, and date
The form does not list supporting documents to attach.
Common mistakes
- Treating the election as a one-year choice. It is binding for ten years, starting with the tax year for which it is made.
- Assuming the election ends automatically. If no withdrawal is properly made, it continues for another ten-year period under the same conditions.
- Withdrawing without following the written-request rules. Withdrawal at the end of the ten-year period must be made in writing within one year of the election's expiration. Early withdrawal requires a qualifying written request and the Tax Commissioner's written permission.
Questions people ask
How long does the election last?
It is binding for ten years, starting with the tax year for which it is made.
Can I withdraw the election before the ten years are up?
Only with the Tax Commissioner's written permission. You must submit a written request showing reasonable cause based on extraordinary hardship due to unforeseen changes in state tax statutes, law, or policy. The same requirements apply to reinstituting the election after withdrawal before the ten-year period expires.
What happens if an early withdrawal is approved?
The Tax Commissioner must impose reasonable conditions needed to prevent tax evasion or clearly reflect income for the election period before or after withdrawal.
What happens when the ten-year period expires?
You may withdraw in writing within one year of the election's expiration. The withdrawal is binding for ten years, subject to the same conditions as the original election. If no withdrawal is properly made, the election continues for another ten-year period under the same conditions.