Transform Your Business Potential with VA Passthrough A Comprehensive Guide to Success

During the 2022 Session, the Virginia General Assembly passed legislation that established a Pass-Through Entity Tax (PTET). The PTET return (Form 502PTET) must ... Your Portsmouth Commissioner of the Revenue's office provides, free of charge, Virginia State Income Tax Forms, a tax return preparation and assistance with ... NC-429 PTE or the applicable form listed above through December 31, 2022. ... A Taxed PTE cannot pass a North Carolina income tax credit to its ... File a PTET return (Form 502PTET) on or before the extended due date for the taxable year. However, unlike some other states, a PTE may revoke ... In addition to receiving forms and payments, our office is trained in the most recent state income tax legislation. We offer free preparation of your Virginia ... Online Forms. New Business License Application · Personal Property Tax Appeals Form · Personal Property Tax Return Number 1 for Automobiles, Vans, ... New businesses are to complete the Meals Tax Registration Form (PDF) and send it to the Commissioner of Revenue's Office. Meals Tax is to be remitted with ... Once the Form 502PTET has been filed, the election is binding for that year. However, if that return has not been filed the PTET election can be ... Virginia's Pass-through Entity Tax (PTET) guidelines have been updated for tax years 2022-2025. The final guidelines address concerns raised by the draft ... Form 500—Virginia Corporation Income Tax Return. Form 502—Virginia Pass-through Entity Income Tax Return. Form 500C—Underpayment of Virginia Estimated Tax by ...