CHARLESTON, W.Va. -- The recent New York Times article that seriously over-inflated tax credits provided by the state was another example of why reporters and math don't mix.
Fortunately, the timing was impeccable, with the release of the annual Tax Credit Disclosure List by the Department of Revenue.
The latest report, for 2007 (the disclosure list is always a five-year look-back since returns can be amended for that period of time) shows that the state gave, not $1.5 billion, but $81.87 million in tax credits.
A good chunk of that is from tax credits that the Legislature actually sunsetted in 2002 -- including the infamous super tax credit -- but because the credits can be claimed for periods of anywhere from five to 15 years, they continue to show up on the 2007 report.
The sunsetted credits account for about $22.4 million of the total, including $14.37 million in super tax credits.
2007 was the year Heather Bresch became chief operating officer of Mylan Pharmaceuticals, and it was a very good for the Canonsburg, Pa.-based company when it came to state tax credits.
Credits Mylan obtained by amount categories include:
Other companies receiving tax credits in the $1 million or more category: