Form 770 - Virginia Fiduciary Income Tax Return



770

2009 Virginia Fiduciary Income Tax Return

Form

Enter Fiscal Year: From

/2009

, AND check here

month/day/year

(if applicable)

Locality Code (See Instructions)

Name of Estate or Trust

FEIN of the Estate or Trust

Name and Title of Fiduciary

Address of Fiduciary (Number and Street)

Check all that apply:

Resident or

Nonresident

City, Town or Post Ofﬁ ce

State

ZIP Code

Fixed Date Conformity modiﬁ cations

Amended Return

Credit claimed for tax withheld

Due May 1, 2010 -

Important: Attach A Complete Copy of The Federal Return

by a Pass-Through Entity

Schedule 1 — Computation of Taxable Income and Tax of Fiduciary

1. Federal taxable income of estate or trust (from federal Form 1041) - OR - if nonresident, amount on Sch. 2, Line 8 ..................1

2. Fiduciary’s share of Virginia modiﬁ cations (Schedule 3, Line 12)

(a) if a net addition ................ 2(a)

[2FA ___________ v 2FS ___________ v See Schedule 3 on Page 2]

(b) if a net subtraction ........... 2(b)

3. Virginia taxable income of ﬁ duciary Line 1 plus Line 2(a) - OR - Line 1 minus Line 2(b) ..............................................................3

4. Compute tax on Virginia taxable income, using one of the lines below:

If Line 3 is $3,000 or less, the tax is 2% of Line 3;

If Line 3 is over $3,000, but not over $5,000, the tax is $60 plus 3% of the excess over $3,000;

If Line 3 is over $5,000, but not over $17,000, the tax is $120 plus 5% of the excess over $5,000; or

If Line 3 is over $17,000, the tax is $720 plus 5.75% of the excess over $17,000 ..................................................................4

5. PAYMENTS AND CREDITS: See instructions

(a) Virginia income tax withheld .................................................................................................(a)

(b) 2009 Virginia estimated tax payments. Include credit from 2008 .........................................(b)

(d) Credit for tax paid to another state from Schedule 4, Line 7. Attach other state's return ......(d)

(e) Neighborhood Assistance Act Credit. Attach certiﬁ cate ........................................................(e)

(f) Enterprise Zone Act Credit from Form 301, Line 32. Attach certiﬁ cate and Form 301 ...........(f)

(g) Major Business Facility Job Credit allowable from Form 304. Attach certiﬁ cation letter .......(g)

(h) Historic Rehabilitation Tax Credit. Attach certiﬁ cate ..............................................................(h)

(i) Low-Income Housing Credit. Attach certiﬁ cate ...................................................................... (i)

(j) Reserved for future use ......................................................................................................... (j)

(k) Reserved for future use ......................................................................................................... (k)

(l) Worker Retraining Tax Credit ................................................................................................. (l)

(m) Qualiﬁ ed Equity and Subordinated Debt Investments Tax Credit ........................................ (m)

(n) i) 100% Coalﬁ eld Employment Enhancement Credit and Virginia Coal Employment

and Production Incentive Credit - Schedule 306B, Line 2 ......(n)i

ii) Reserved for future use ........................................................ (n)ii

iii) Full credit - From your 2009 Form 306, Line 12a ................. (n)iii

iv) Full credit - From your 2009 Form 306, Line 12b ................. (n)iv

v) Full Coalﬁ eld Employment Enhancement Credit -

Add Lines (n)iii and (n)iv. Attach Form 306 ........................................................................(n)

(o) i) 85% credit - From your 2009 Form 306, Line 13a.................. (o)i

ii) 90% credit - From your 2009 Form 306, Line 13b................. (o)ii

iii) Excess Coalﬁ eld Employment Enhancement Credit and Virginia Coal Employment

and Production Incentive Credit - Add Lines (o)i and (o)ii. Attach Form 306.......................(o)

(p) Reserved for future use .........................................................................................................(p)

(q) Land Preservation Tax Credit. Attach certiﬁ cate ....................................................................(q)

Total payments and credits Add Lines 5 (a) through 5 (q) .............................................................................................................5

6. BALANCE DUE If Line 4 is larger than Line 5, subtract Line 5 from Line 4 .................................................................................6

7. OVERPAYMENT If Line 5 is larger than Line 4, subtract Line 4 from Line 5 ................................................................................7

8. Amount of overpayment to be CREDITED to 2010 Estimated Income Tax ..................................................................................8

9. AMOUNT TO BE REFUNDED Subtract Line 8 from Line 7..........................................................................................................9

10. Coalﬁ eld Employment Enhancement Tax Credit earned in 2009 Form 306, Line 11. Attach Form 306 ......................................10

11. Amount from Form 760C or Form 760F. Attach Form 760C or Form 760F ................................................................................ 11

Check here if farming, ﬁ shing or being a merchant

For Local Use

For Ofﬁ ce Use

Coding

seaman accounts for at least two-thirds of the

LTD

income.

Va. Dept. of Taxation 770 F 2601047

REV 9/09