Empower Your Business VA Passthru Extension for Enhanced Connectivity

Prepare and eFile your Federal Personal Extension to unlock FREE Virginia Extension filing resources for all extensions with 24/7 support. ... pass-through entity ... However, those taxpayers that did make the required extension payment by April 17, 2023, will be assessed penalties and interest. The Virginia Department of Taxation (TAX) released the following pass-through entity (PTE) taxation reminders on Oct. 11, 2023. Virginia's new law allows certain qualifying PTEs to make an annual election to pay an income tax at a rate of 5.75% at the entity level. ... Virginia Pass-Through Entity Election. Dear Commissioner Burns: The Tax ... In some cases, there was insufficient time to analyze and make the extension payment. Clarification relief does not apply to pass-through entity nonresident withholding tax. The interest waiver and payment extension apply to income tax paid with ... Glenn Youngkin (R), including retroactive amendments to the Virginia passthrough entity (PTE) tax election. ... extension payments by the original ... Virginia Pass-Through Entity Tax: Legislation Passes General Assembly, Awaiting Governor's Signature ... extensions). However, due to the ... revoking the Taxed PTE Election on the original due date of the NC Tax Return and the partnership was not granted an extension to file the NC ... The extension of ready- made credit by the Government was to make up for his/her lost time. The new Act provided something different. It could no longer be ...