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The sunset date of the credit has been extended to taxable years beginning before January 1, 2028. In addition, the amount of the tax credit has increased from 30% to 50% of the fair market value of qualifying donations, and
Certain Virginia corporations, with 100% of their business in Virginia and federal taxable income of $40,000 or less for the taxable year, may qualify to electronically file a short version of the return (eForm 500EZ) for free using eForms. If tax is due, you can pay using your bank account information.
To avoid penalties, Form 500 filers must pay at least 90% of their final tax liability by the original due date for filing the return. Can a return be amended through corporate e-File? Yes.
Extended due dates: Per VA Tax Bulletin 20-5, all payments including, return, extension, and estimate payments, originally due between April 1, 2020 and June 1, 2020 have been extended to June 1, 2020.
Upcoming Due Dates in the Next Year:* Monday Mar 17, 2025; Create a free account to see exactly when to file this form, receive email or SMS notification reminders, and to keep a record of filing it in your history. * Due dates are based on the filing requirements for this form and may vary depending on your tax year.
As a tax exempt organization, you are required to file a Virginia corporation income tax return, Form 500, only if you must file federal Form 990-T to report unrelated business taxable income. The Virginia return is due to be filed by the 15th day of the 6th month following the close of your taxable year.
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.
