Discussion:Virginia S Corp Help Please
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| {{ForumNewPost|UserID=FLAcct|Date=26 March 2009|Text=I just want to make sure I am not missing something here. I have a client whose corporation was set up in Virginia (he used to live there). The corporation does not do any business at all in Virginia, only in Florida, and is registered as a foreign corporation in Florida. The Virginia S Corp instructions say that "every pass-through entity that does business in Virginia or receives income from Virginia sources must file an income tax return on Form 502". Since this corp only has income from Florida, am I correct that no Virginia tax return needs to be filed at all for this S corp. The only thing the stockholder will need to do is pay the annual filing fee with the state to keep his corp active. Is this right? Thanks. }} | {{ForumNewPost|UserID=FLAcct|Date=26 March 2009|Text=I just want to make sure I am not missing something here. I have a client whose corporation was set up in Virginia (he used to live there). The corporation does not do any business at all in Virginia, only in Florida, and is registered as a foreign corporation in Florida. The Virginia S Corp instructions say that "every pass-through entity that does business in Virginia or receives income from Virginia sources must file an income tax return on Form 502". Since this corp only has income from Florida, am I correct that no Virginia tax return needs to be filed at all for this S corp. The only thing the stockholder will need to do is pay the annual filing fee with the state to keep his corp active. Is this right? Thanks. }} | ||
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| + | {{ForumReplyPost|UserID=Dnc0716|Date=26 March 2009|Text=[http://www.tax.virginia.gov/site.cfm?alias=CorpIncomeTax] | ||
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| + | See link. The corp is a "Domestic Corp" and must file a tax return even if no VA income.}} | ||
Revision as of 01:03, 26 March 2009
Discussion Forum Index --> Basic Tax Questions --> Virginia S Corp Help Please
Discussion Forum Index --> Tax Questions --> Virginia S Corp Help Please
| 26 March 2009 | |
| I just want to make sure I am not missing something here. I have a client whose corporation was set up in Virginia (he used to live there). The corporation does not do any business at all in Virginia, only in Florida, and is registered as a foreign corporation in Florida. The Virginia S Corp instructions say that "every pass-through entity that does business in Virginia or receives income from Virginia sources must file an income tax return on Form 502". Since this corp only has income from Florida, am I correct that no Virginia tax return needs to be filed at all for this S corp. The only thing the stockholder will need to do is pay the annual filing fee with the state to keep his corp active. Is this right? Thanks. | |
| 26 March 2009 | |
| [1]
See link. The corp is a "Domestic Corp" and must file a tax return even if no VA income. | |
