SCHEDULE RBIC 
HISTORIC REHABILITATED BUILDINGS INVESTMENT CREDIT 
                         (For Investments Made After June 6, 1990) 

The purpose of the Historic Rehabilitated Buildings Investment Credit is to encourage the 
restoration of buildings of historical significance within West Virginia. Obtain Publication TSD-380 
for additional guidelines and procedures for claiming the credit. 

ELIGIBLE TAXPAYERS 
Eligibility for the Historic Rehabilitated Buildings Investment Credit is limited to taxpayers making 
qualified rehabilitation project expenditures on income producing properties on or after June 6, 
1990 for a  project located in West Virginia and receiving certification from the  National Park 
Service for such expenditures. 

AMOUNT OF CREDIT 
A credit of ten percent (10%) of the qualified expenditures for the rehabilitation of residential and 
nonresidential buildings designated by the National Park Service, United States Department of 
the Interior as “certified historic  structures,” and further defined as a  “qualified rehabilitated 
structure,”  may be taken against West Virginia Personal Income Tax and West Virginia 
Corporation Net Income Tax.    Projects for which an application, Part 2-Description of 
Rehabilitation, was received by the state historic preservation office after December 31, 
2017 are eligible for an increased credit of twenty-five   percent (25%) for qualified 
investments occurring after December 31, 2017.  However, the twenty-five percent credit 
earned for qualified rehabilitation expenditures after December 31, 2017, may not be used 
to offset tax liabilities of the taxpayer prior to tax years beginning on or after January 1, 
2020.  The Historic Rehabilitated Buildings Investment credit expires on December 31, 2022. 
Unused credits for expenditures before 2018 (10%) may be carried back for one year and then 
carried forward for twenty years in a method identical to that provided for in the federal credit law. 
Unused credits for tax years after 2017 (25%) and available for use beginning on or after January 
1, 2020 cannot be carried back to a prior year but can be carried forward. Credits are typically 
treated as first in, first out (FIFO).  Credits carried forward from prior periods MUST be used first. 
The statute requires that the building or area be located within West Virginia to be eligible for the 
investment credit and requires review by the West Virginia Department of Culture and History. 

       NOTE: In order to claim the West Virginia Historic Rehabilitated Buildings 
       Investment Credit, you must also qualify for the Federal Certified Historic 
       Structures Credit. You should attach a copy of your request for a final National 
       Park Service (NPS) certification (NPS Form 10-168c) along with Schedule RBIC 
       (Historic Rehabilitated Buildings Investment Credit) to your state income tax return. 

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                                 SCHEDULE RBIC 
  HISTORIC REHABILITATED BUILDINGS INVESTMENT CREDIT 
                     (For Investments Made After June 6, 1990) 

                                 INSTRUCTIONS 
 Line 1.   Enter the amount of qualified rehabilitation expenditures for certified historic structures 
           located within West Virginia that were incurred on or after June 6, 1990 and on or before 
           December 31, 2017. 
 Line 2.   To calculate the credit earned, enter 10% of the amount shown on Line 1. 
 Line 2a.  Enter the amount of 10% credit earned on Line 2 which has been claimed in prior years 
           or transferred/sold to another taxpayer. 
 Line 2b.    To calculate the 10% credit available, subtract Line 2a from Line 2.  
 Line 3.   Enter the amount of qualified rehabilitation expenditures that were  incurred after 
           December 31, 2017 for projects whose applications, Part 2, were submitted to the state 
           preservation office after December 31, 2017. 
 Line 4.   To calculate the credit earned, enter 25% of the amount shown on Line 3. 
 Line 4a.   Enter the amount of 25% credit earned on Line 4 which has been claimed in prior years 
           or transferred/sold to another taxpayer.  
 Line 4b.    To calculate the 25% credit available, subtract Line 4a from Line 4 
 Line 5.   Add lines 2b and 4b.  
 Line 6.   Enter the number(s) assigned to the project(s) by the National Park Service. In order to 
           receive  the credit, a  copy of the request for final National Park  Service (NPS) 
           certification (NPS Form 10-168c) should be attached. 
 Line 7.   Enter the identifying number of the flow-through entity in the space provided if the credit 
           is a flow-through resulting from an investment by a partnership, S corporation, estate, 
           or trust. 
 Line 8.   Enter your West Virginia pre-credit tax liability for the current tax year. (Individuals - 
           Form IT-140, Line 8); (Corporations – Form WV\CNT-112, Line 7). 
 Line 9a.  Enter amounts of all other allowable tax credits claimed on your return. 
 Line 9b.  To determine your maximum credit offset, subtract the amount on Line 9a from the 
           amount on Line 8. 
 Line 10.  To calculate the total allowed credit, enter the smaller of Line 5 or Line 9b. This is the 
           Historic Rehabilitated Buildings Investment Credit for the current tax year. 
 Line 11.   To calculate the excess 10% credit available for carryback to the prior year, subtract 
           the amount of Line 10 attributable to line 2 (10% credit) from the amount on Line 2b. 
 Line 12.  If, after application of tax credit to the current year’s income tax liability, credit remains 
           on Line 11, this may be used to eliminate the tax liability for the past year (10% credit 
           only).  
 Line 13a.  To determine the 10% credit carryforward, subtract any carryback credit claimed on 
           Line 12 from the excess 10% credit on Line 11.  
 Line 13b.  To determine the 25% credit carryforward, subtract the amount of Line 10 attributable 
           to line 4 (25% credit) from Line 4b.  
                               
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 Form 
 RBIC                     SCHEDULE RBIC 
Rev 03/2021 HISTORIC REHABILITATED BUILDINGS INVESTMENT CREDIT 
                          (For Investments Made After June 6, 1990) 

 Name                                                                        Identification Number  
 Street Address  
 City                                                      State                        Zip
       
 1    Qualified Rehabilitation expenditures  for certified Historic structures 
      incurred on or after June 6, 1990 and on or before December 31, 2017         1    
 2    Credit earned (Enter 10% of amount shown on Line 1). 
                                                                                   2    
 2a.  Enter the amount of 10% credit earned on Line 2 which has been claimed 
      in prior years or transferred to another taxpayer.                           2a   
 2b.  Subtract Line 2a from Line 2. This is your available 10% credit 
                                                                                   2b   
 3    Qualified rehabilitation expenditures incurred after December 31, 2017 
      (For applications, Part 2, submitted after December 31, 2017 only)           3    
 4    Credit earned (Enter 25% of amount shown on Line 3). 
                                                                                   4    
 4a.  Enter the amount of 25% credit earned on Line 4 which has been claimed 
      in prior years or transferred to another taxpayer.                           4a   
 4b   Subtract Line 4a from Line 4. This is your available 24% credit 
                                                                                   4b   
 5    Total credit available (add lines 2b and 4b) 
                                                                                   5    
 6    Enter National Park Service number(s)  
      (National Park Service Certification(s) must be attached)                    6    
 7    Enter the flow-through entity’s identifying number, if applicable. 
      (See Instructions)                                                           7    
 8    Enter your pre-credit income tax liability. 
                                                                                   8    
 9a   Enter amounts of all other allowable credits claimed (i.e. Tax paid to other 
      States, Small Business, Military Employment, and Economic Opportunity)       9a   
 9b   Subtract amount on Line 9a from the amount on Line 8 
                                                                                   9b   
 10   Total allowed credit - Enter smaller of Line 5 or Line 9b.                    
      This is your credit                                                          10   
 11   Excess 10% Credit 
      Subtract the amount on Line 10 attributable to line 2 (10% credit) from the 
      amount on Line 2b                                                            11   
 12   Credit Carryback: 
      Enter the amount from Line 11 carried back to last year. (Not available for 
      25% credit earned on expenditures made after December 31, 2017)              12   
 13a  Credit Carryforward for expenditures before 2018 (10%): 
      Subtract the credit carryback claimed on Line 12 from the excess 10% 
      credit on Line 11. This is your remaining 10% credit for carryforward        13a  
 13b  Credit Carryforward for expenditures after 2017 (25%): 
      Subtract the total claimed on Line 10 attributable to line 4 from the amount 
      on Line 4b. This is your remaining 25% credit for carryforward               13b  
 
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