Form 770 - Virginia Fiduciary Income Tax Return

Virginia Fiduciary Income Tax Return

770

2007

Amended Return

Fiscal Year Filers: Enter taxable year beginning

, 2007 and ending

, 20

, AND check here

Name of Estate or Trust

Locality

See Instructions

Name and Title of Fiduciary

Check One:

Resident

Address of Fiduciary (Number and Street)

Nonresident

City, Town or Post Ofﬁ ce

State

ZIP Code

FEIN of the Estate or Trust

Fixed Date Conformity additions or

Due May 1, 2008 -

Important: Attach A Complete Copy of The Federal Return

subtractions? If yes, check here.

Schedule 1 — Computation of Taxable Income and Tax of Fiduciary

1. Federal taxable income of the estate or trust (from federal Form 1041) - OR - if nonresident,

amount on Schedule 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) 2007 Virginia estimated tax payments (include credit from 2006) ........................................(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) Credit allowable this year 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) Line Reserved For Future Use ............................................................................................... (j)

(k) Line 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 1 ......(n)i

ii) 50% Coalﬁ eld Employment Enhancement Credit -

Schedule 306B, Line 2 .......................................................... (n)ii

iii) Full credit - From your 2007 Form 306, Line 12a ................. (n)iii

iv) Full credit - From your 2007 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 2007 Form 306, Line 13a.................. (o)i

ii) 90% credit - From your 2007 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) Refundable Real Property Improvement Tax Credit ..............................................................(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 2008 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 2007 Form 306, Line 11 (attach Form 306).....................................10

Check if FORM 760C (760F) is attached. Enter Amount:

For Local Use

For Ofﬁ ce Use

Coding

LTD

Check here if farming, ﬁ shing or being a merchant

seaman accounts for at least two-thirds of the income.

Va. Dept. of Taxation 770 F 2601047

REV 9/07