                                 CODE OF VIRGINIA

REPORTS BY CORPORATIONS (§ 58.1-441)

A. Every corporation organized under the laws of the Commonwealth, or having
income from Virginia sources, other than a Subchapter S corporation subject to
the return filing requirements of &#xA7; 58.1-392, shall make a report to the
Department on or before the fifteenth day of the fourth month following the
close of its taxable year. Such reports shall be made on forms prescribed by the
Department and shall contain such information, including the gross receipts from
any business carried on in the Commonwealth and a depreciation schedule of
property used in such trade or business, as may be necessary for the proper
enforcement of this chapter and be accompanied by a copy of any federal tax
return or report filed for such taxable year. The Department shall not require
any nonprofit organization created exclusively to assist a law-enforcement
official or agency in apprehending and convicting perpetrators of crimes, to
report on such returns, or otherwise, the names of individuals or amounts paid
to such individuals by the organization for providing information about certain
crimes.
			Receivers, trustees in dissolution, trustees in bankruptcy, and assignees,
operating the property or business of corporations must make returns of income
for such corporations. If a receiver has full custody of and control over the
business or property of a corporation, he shall be deemed to be operating such
business or property, whether he is engaged in carrying on the business for
which the corporation was organized or only in marshaling, selling, or disposing
of its assets for purposes of liquidation.

B. Notwithstanding the provisions of subsection A, every organization to whom
subdivision 5 of &#xA7; 58.1-401 applies, and having unrelated business taxable
income or other taxable income, shall make a report to the Department on or
before the fifteenth day of the sixth month following the close of the
organization&#8217;s taxable year.

HISTORY: Code 1950, §§ 58-151.062, 58-151.078; 1971, Ex. Sess., c. 171; 1972,
cc. 465, 827; 1978, c. 796; 1984, c. 675; 1988, c. 444; 2003, c. 376; 2004, Sp.
Sess. I, c. 3.