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760C - 2008

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Page 2

Your Name - OR - Name of Estate or Trust

Your Social Security Number or FEIN

Part II - Exceptions That Void the Addition to Tax

May 1, 2008

June 15, 2008

Sept. 15, 2008

Jan. 15, 2009

15. Total Amount Paid and Withheld From January 1, 2008 Through the

Installment Date Indicated

16. Exception 1: Prior Year's Tax

100% of 2007 Tax

25%

50%

75%

100%

(Multiply the 2007 tax by the percentage in each col.)

17. Exception 2: Tax on Prior Year's Income Using the

100% of Tax

25%

50%

75%

100%

2008 Rates and Exemptions

(Multiply the 2007 tax by the percentage in each col.)

If you met Exception 1 or 2 for each period, you do not need to attach Form 760C to your return. The Department will

automatically compute Exceptions 1 and 2.

18. Exception 3 Worksheet: Tax on Annualized 2008 Income (Use the formula below to compute the amount on lines 18a, b and c for each col.)

Lines 18a, b and c:

April 30 column:

Multiply the actual amount for the period ended April 30, 2008, by 3.

May 31 column:

Multiply the actual amount for the period ended May 31, 2008, by 2.4.

August 31 column:

Multiply the actual amount for the period ended August 31, 2008, by 1.5.

From January 1 to:

April 30

May 31

August 31

a. Annualized Virginia Adjusted Gross Income (VAGI) for Each Period

Note

b. Compute the Annualized Itemized Deductions Using the Formula

Above OR Enter the Full Standard Deduction in Each Column If You

Estates

Did Not Claim Itemized Deductions

and trusts

c. Compute the Annualized Child and Dependent Care Expenses and

should use

other deductions for Each Period

end dates

of March

31, April 30

d. Total Dollar Amount of Exemptions Claimed on Your Return

& July 31.

e. Virginia Taxable Income

(Subtract Lines 18b, c and d from Line 18a.)

f. Virginia Tax

(Enter the Va. income tax on the amount(s) shown on line 18e above.)

g. Multiply Line 18f by the Percentage Shown for Each Period

22.5%

45%

67.5%

Note

19. Exception 4 Worksheet: Tax on 2008 Income Over a 4, 5 and 8 Month Period* (* 3, 4 and 7 months for estates and trusts)

Exceptions

3 and 4 do

From January 1 to:

April 30

May 31

August 31

not apply to

the fourth

installment

a. Enter Your Virginia Adjusted Gross Income (VAGI) for Each Period

period.

b. Enter the Itemized Deductions Claimed for Each Period OR (If

Greater) the Full Standard Deduction

c. Enter the Child and Dependent Care Expenses and other deductions

for Each Period

d. Enter the Total Dollar Amount of Exemptions Claimed on Your Return

e. Virginia Taxable Income

(Subtract Lines 19b, c and d from Line 19a.)

f. Virginia Tax

(Enter the Va. income tax on the amount(s) shown on Line 19e above.)

g. Multiply Line 19f by 90% (.90) for Each Period

Continued on Next Page g

Form 760c - Underpayment Of Virginia Estimated Tax By Individuals, Estates And Trusts - 2008 Page 2

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