502w - Virginia Department Of Taxation
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1
2Pass-Through Entity Withholding Tax Payment
Pass-through entities are required to submit returns and payments electronically. Use this voucher only if you have been granted a waiver.
For details, visit the Department’s website at
General Information
•
Is a Publicly Traded Partnership
Every pass-through entity (PTE) doing business in the Commonwealth
•
Is a Disregarded Entity
that has taxable income derived from Virginia sources and must allocate
•
Files a Unified Return on Behalf of All Nonresident Owners
any portion of that income to a nonresident owner is required to pay
Undue Hardship
the withholding tax. The PTE is required to withhold 5% of the share of
If a PTE believes that the withholding requirement causes an undue
taxable income from Virginia sources that is allocable to each nonresident
hardship, the PTE may apply to the Tax Commissioner requesting an
owner. The amount of withholding tax may be reduced by any tax credits
exemption. In addition to any other information that is pertinent to the
that were earned by the PTE and allowable by the Code of Virginia that
PTE’s petition for relief, the letter shall provide information that will enable
pass through to nonresident owners.
the Tax Commissioner to compare and evaluate the cost to the PTE of
How to Make Withholding Tax Payments Electronically
complying with the withholding tax requirements, and the cost to the
To payments electronically, use the eForms application on the
Commonwealth of collecting income tax from any nonresident owners
Department’s website at Select the 502W from
that do not voluntarily file Virginia income tax returns and pay the tax.
the eForms list and complete the form and payment information online.
Exempt Owners
You can schedule your payment for a future date.
The PTE must pay the withholding tax for all nonresident owners, with
A PTE may also make its tax payments using an ACH Credit transaction
the following exceptions:
through its bank. Some banks may charge a fee for this service. For
•
Individuals who are exempt from paying federal income taxes based
information on how to submit ACH Credit Payments to the Department,
on their status or who are exempt from Virginia income taxes. The
see the Electronic Payment Guide at
exemption must apply to the individual’s share of the PTE’s income.
When to File and Pay
Examples are diplomatic immunity and individuals who did not have
The withholding tax payment is due on the due date of the PTE’s return
any liability for Virginia income tax in the previous year and who do
regardless of whether the extension to file Form 502 is used. For calendar
not expect to have any liability in the current year.
year filers, the withholding tax payment is due on April 15, 2017.
•
Entities other than individuals and corporations that are exempt from
NOTE: Virginia does not recognize Emancipation Day, occurring annually
paying federal income taxes by reason of their purpose or activities.
on April 16 in Washington DC.
The exemption from federal income tax must apply to the entity’s
share of the PTE’s income. Examples of such exempt entities are:
Purpose of Form
•
Other PTEs. Generally, a PTE does not need to withhold for
Use Form 502W:
a nonresident owner that is also a PTE. These nonresident
•
To make a withholding payment when a PTE has an approved
owner PTEs are responsible for filing their own Forms 502
waiver to file on paper rather than electronically
and must pay the withholding tax for their nonresident owners’
•
To make a withholding payment prior to filing Form 502, usually
shares of income from Virginia sources. If a PTE is notified
when the PTE is filing during the automatic 6-month extension
by a nonresident owner PTE that the nonresident owner PTE
•
To make a withholding payment prior to the due date
is not going to file a Form 502, then the PTE is required to
withhold on the nonresident owner PTE.
Do not use Pass-Through Entity Payment Vouchers (Form 502W and
Form 502V) to make payments with the Unified Nonresident Income
Caution: If a PTE withholds on a nonresident owner PTE,
the nonresident owner PTE cannot claim credit for such
Tax Return, Form 765.
withholding on its Form 502 for such withholding. PTE
NOTE: Form 502V must be used when a PTE makes a payment with
withholding is not “generation skipping” and does not pass
the Form 502.
through an intermediate PTE to owners that are more than
Exempt Entities
one level of ownership away. If a PTE erroneously withholds
The PTE will not be required to pay the withholding tax if it:
for a nonresident owner PTE, the PTE should file an amended
Detach at dotted line below. DO NOT SEND ENTIRE PAGE.
Form 502W
Pass-Through Entity Withholding Tax Payment
VIRGINIA DEPARTMENT OF TAXATION
(Doc ID 522)
Attention: Payment must be made electronically.
P.O. BOX 1500, RICHMOND, VA 23218-1500
Use this voucher only if you have an approved
For assistance, call (804) 367-8037.
waiver.
Check if initial filer
(This is the first year filing a PTE return.)
To receive credit for your payment in the
correct taxable year, please enter the
0000000000000000 5220000 000000
ending month (numerical) and year.
Month Ending Year Ending
FEIN
Entity Type
NAICS Code
12
Calendar year:
OR;
Fiscal year:
OR;
Name of Pass-Through Entity
Short taxable year:
Address (Number and Street)
Address Continued
City, State and ZIP Code
0 0
$
.
I declare that this return (including accompanying schedules and statements) has been examined
Amount of Payment
by me and to the best of my knowledge and belief is true, correct and complete.
Signature
Date
Phone Number
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