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West Virginia Income Maintenance Manual Chapter 5

West Virginia Income Maintenance Manual Page 28 Chapter 5 Assets

5.5.7 BUSINESS AND NON-BUSINESS PERSONAL PROPERTY 5.5.7.A Business Personal Property SNAP: • Excluded if used in a business. If not excluded as business property, the equity value is an asset. • This exclusion continues during periods of unemployment due to physical inability to work as long as the individual intends to return to work when physically able. • Vehicles and recreational vehicles/equipment are excluded regardless of use. SSI Medicaid Groups: The following are excluded as business personal property, regardless of the rate of return: • Property currently used in a trade or business • Property used by an individual as an employee for work • Property required by an employer for work. Examples include, but are not limited to: tools, safety equipment, and uniforms. The property must be in current use or has been in use, with a reasonable expectation that the use will resume within 12 months of last use. The 12-month period can be extended for an additional 12 months if nonuse is due to a disabling condition. Verification of the condition is not required. The exclusion ends as of the date the person changes his intent to resume the self- support enterprise or employment for which he uses the property. Excluded Property Example 1: Ms. Dahlia has a small business in her home making hand-woven rugs. The looms and other equipment used in the business have a CMV of $7,000. Her equity is $5,500 because she owes $1,500 on the looms. The $5,500 equity is excluded because the equipment is used in a business. Excluded Property Example 2: Mr. Woods owns a commercial fishing permit granted by the State Commerce Commission, a boat, and fishing tackle. The boat and tackle have an equity value of $6,500. The $6,500 equity is excluded because the boat and tackle are used in a business. SNAP WVW, AFDC-Related SSI Groups No* Yes No*