Provide a tax credit to for-profit and nonprofit corporations to encourage the continued operation of child-care facilities for the benefit of their employees

HB 2641 provides a state tax credit to West Virginia employers (both for-profit and nonprofit corporations) who operate existing on-site or sponsored childcare facilities for their employees. The credit equals 100% of the employer’s annual operational costs (excluding property costs) for these facilities, minus any employee fees paid. Employers can apply the credit against their state corporate net income tax or personal income tax, with unused credits carryable forward for up to five years. The credit is limited to the employer’s total tax liability for the year and requires certification of employee usage to ensure compliance.