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For taxable years beginning on and after January 1, 2021, the annual caps for the Research and Development and Major Research and Development Tax Credits have increased. The Research and Development Tax Credit limit increased from $7 million to $7.7 million per fiscal year.
FEIN. Use Schedule 500ADJS in addition to the Schedule 500ADJ if you are claiming more additions or subtractions than the Schedule 500ADJ allows. Refer to the Form 500 Instructions for addition and subtraction codes.
Instructions for 2021 Form 500NOLD For a capital loss carryback, file an amended Virginia corporation return using Form 500 and Schedule 500ADJ.
Form 500 must be filed electronically. Entries for electronic filing can be made on Federal - General - Electronic Filing. If electronic filing is not selected, letters and filing instructions will default to paper instructions. Filing information is available at: https://tax.virginia.gov/corporation-income-tax.
This document contains official instructions for Form 500, Virginia Corporation Income Tax Return - a form released and collected by the Virginia Department of Taxation. An up-to-date fillable Form 500 is available for download through this link .
All home service contract providers must submit Form 500HS with their Form 500. A noncorporate provider must complete Form 502 in addition to Form 500 and Form Captive REIT is required to add back any federal deduction for dividends paid to its shareholders.
For taxable years beginning on and after January 1, 2018, home service contract providers are exempt from the insurance premiums license tax and instead will be subject to the corporation income tax or a minimum tax. All home service contract providers must submit Form 500HS with their Form 500.
