                                 CODE OF VIRGINIA

DECLARATIONS OF ESTIMATED INCOME TAX REQUIRED; CONTENTS, ETC (§ 58.1-500)

A. Every corporation subject to taxation under this chapter shall make a
declaration of estimated tax for the taxable year if its income tax imposed by
this chapter, for such taxable year, reduced by any credits allowable against
the tax, can reasonably be expected to exceed $1,000.

B. For purposes of this article, &#8220;estimated tax&#8221; means the amount
which the corporation estimates as the amount of the income tax imposed by this
chapter for the taxable year less the amount which the corporation estimates as
the sum of any credits allowable against the tax.

C. The declaration shall contain such pertinent information as the Commissioner
may by forms or regulations prescribe.

D. A corporation may make amendments of a declaration filed during the taxable
year under regulations prescribed by the Tax Commissioner, not exceeding the
number specified in &#xA7; 58.1-501.

E. A corporation with a taxable year of less than twelve months shall make a
declaration in accordance with regulations prescribed by the Tax Commissioner.

HISTORY: Code 1950, § 58-151.36; 1968, c. 14; 1970, c. 588; 1984, c. 675.