Natural gas liquids or "NGLs" are hydrocarbons removed from a hydrocarbon stream. Anyone who stores or transports natural gas liquids and is subject to the taxes imposed under 11-21-1 et seq. or 11-24-1 et seq. of West Virginia's tax code is eligible for this credit. The credit is equal to the amount of West Virginia property tax you paid on the value of your inventory and equipment during the tax year.
See Form NGL-2 and the WV Legislature Code for more information.
