By Keiter CPAs
Provided by Virginia Tax, the following article serves as a reminder for tax professionals in C corporations and pass-through entities to file, either electronically or on paper, returns and payments by the appropriate March 2018 deadline.
Corporation Income Tax
Corporation Income Tax returns (Form 500) are due on March 15, 2018 from:
- Fiscal year filers whose taxable year ends Nov. 30, 2017
- Fiscal year filers, excluding C corporations*, whose taxable year ends on May 31, 2017 and who are filing under Virginia’s automatic 6-month extension
- C corporation* fiscal year filers whose taxable year ends on April 30, 2017 and who are filing under Virginia’s automatic 7-month extension
*Note: Beginning with returns originally due April 15, 2017, C corporations have an automatic seven month filing extension. The extension period for all other corporate entities is six months.
Pass-Through Entities
Pass-Through Entity Return of Income and Return of Nonresident Withholding Tax (Form 502) is due on March 15, 2018 from:
- Fiscal year filers whose taxable year ends Nov. 30, 2017
- Fiscal year filers whose taxable year ends on May 31, 2017 and who are filing under Virginia’s automatic 6-month extension
Sales and Use Tax
Sales tax returns and payments for February 2018 are due March 20, 2018. You are required to file a return even if no tax is due. .
The following returns and payments must be filed accordingly:
Electronic Returns/Payments |
Paper Returns/Payments |
| (ST-9) Retail Sales and Use Tax returns | (WCT-2) Watercraft Sales and Use Tax |
| (ST-8) Out-of-State Dealer’s Use Tax | (AST-2) Dealer’s Aircraft Sales and Use Tax |
| (MVR-420) Motor Vehicle Rental Tax | |
| (VM-2) Vending Machine Dealer’s Sales Tax | |
| (ST-7) Business Consumer’s Use Tax *if a liability was incurred |
Withholding Tax
All employers are required to file withholding tax returns and make payments electronically.
Employer’s Return of Virginia Income Tax Withheld (Form VA-5) for February 2018 is due March 25, 2018 from:
- Businesses that file on a monthly basis
- Seasonal businesses that designated February as a month of operation when the business was registered
Questions on tax filings for you and your business? We can help. Contact your Keiter representative or Email | 804.747.0000.
Source: Virginia Tax
Additional Tax Resources:
About the Author
Keiter CPAs
Keiter CPAs is a certified public accounting firm serving the audit, tax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial services, construction, real estate, manufacturing, retail & distribution industries and nonprofits. We also provide business valuations and forensic accounting services, family office services, and inbound international services.
More Insights from Keiter CPAsThe information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.
