CIT-120TC: Summary of Corporation Net Income Tax Credits (2025)
West Virginia · WV Tax Division · Used for tax years 2025
Form CIT-120TC summarizes West Virginia corporation net income tax credits, showing the credit calculated on each applicable schedule and the credit used. The total credit amount cannot exceed the tax liability.
Who files this form
Corporations claiming a tax credit listed on CIT-120TC must include this summary form and the appropriate credit calculation schedules or forms with their return.
What you'll need
You need your corporation name, FEIN, and the credit calculation schedules or forms for the credits you claim. The form identifies supporting documents beside the credit names, including:
- Economic Opportunity Tax Credit: Schedules EOTC-1 and EOTC-A.
- Manufacturing Investment Tax Credit: Schedules MITC-1 and MITC-A.
- West Virginia Neighborhood Investment Program Credit: Form NIPA-2.
- Farm to Food Bank Tax Credit: Department of Agriculture Certificate.
- Capital Investment in Child-Care Property Tax Credit: Schedule CIP.
- Operating Costs of Child-Care Facility Tax Credit: Schedule OCF.
These are examples, not the full list. Use the supporting documents listed for each credit you claim.
How to file
- Enter the corporation name and FEIN.
- For each applicable credit, enter the credit calculated on the appropriate schedule in Column 1 and the credit used in Column 2.
- Add all credit lines above line 25 and enter the totals on line 25.
- Enter the Column 2 total on line 11 of Schedule 1 or line 17 of Schedule 2.
- Enclose CIT-120TC and the appropriate credit calculation schedules or forms with your return.
The supplied text does not give a mailing address or e-filing instructions.
Common mistakes
- Claiming more credit than the tax liability. The form warns that the total amount of credit cannot exceed the tax liability.
- Leaving out required attachments. This summary form and the appropriate credit calculation schedules or forms must be enclosed with the return to claim a credit.
- Stopping after the first page. The form continues on the next page, where additional credits and line 25 appear.
- Not transferring the credit-used total. Line 25 directs you to enter the Column 2 total on line 11 of Schedule 1 or line 17 of Schedule 2.
Questions people ask
What is the difference between Column 1 and Column 2?
Column 1 is the credit calculated on the appropriate schedule. Column 2 is the credit used.
Can total credits exceed the tax liability?
No. The form states that the total amount of credit cannot exceed the tax liability.
Where do I enter the total credit used?
Enter the Column 2 total from line 25 on line 11 of Schedule 1 or line 17 of Schedule 2.
What document is listed for the Farm to Food Bank Tax Credit?
The form lists a Department of Agriculture Certificate.
Where can I get more information about these credits?
Visit tax.wv.gov or call Taxpayer Services at 1-800-982-8297.