Form 760es - Virginia Estimated Income Tax Payment Voucher For Individuals - 2014 Page 2

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VI. WHERE TO FILE
TAX RATE SCHEDULE
Filing online is the fastest and easiest way to make estimated
I
F YOUR VIRGINIA TAXABLE INCOME IS:
payments and you receive immediate confirmation.
Not over $3,000, your tax is 2% of your Virginia taxable income.
Send the first voucher filed for the taxable year to the address
but not
your tax
of excess
shown for the Commissioner of the Revenue, Director of
over...
over...
is...
over...
Finance or Director of Tax Administration for your Virginia
$
3,000
$ 5,000
$ 60 + 3%
$ 3,000
city or county. If you are a nonresident, file your first voucher
$
5,000
$17,000
$ 120 + 5%
$ 5,000
with the Commissioner of the Revenue, Director of Finance or
$ 17,000
$ 720 + 5.75%
$ 17,000
Director of Tax Administration for the city or county in which
the principal portion of the income from Virginia sources was
TAX CREDITS and ADJUSTMENTS
received. If filing is not required until after May 1, see the
PAYMENT SCHEDULE for information on which voucher to
You may claim an expected tax credit or adjustment on the
file. File the remaining vouchers with the Treasurer for your
worksheet if:
city or county using the addresses at the end of this document.
(a) you are a resident of Virginia and you will pay income
tax to another state as a nonresident, except for the
VII. WHERE TO GET HELP
states of Arizona, California, Oregon or the District
If you need assistance completing your return, call or visit the
of Columbia;
Commissioner of the Revenue, Director of Finance or Director
(b) you are a resident of one or more of the states listed
of Tax Administration for your city or county or the Department
above and you will pay income tax to Virginia as a
of Taxation. Mailing addresses and telephone numbers are
nonresident;
listed at the end of this document. Requests for information
(c) you expect to qualify for one of the other available
may also be addressed to the: Virginia Department of
individual income tax credits; or
Taxation, P. O. Box 1115, Richmond, VA 23218-1115, or
call 804-367-8031. Do not mail your income tax return to this
(d) you qualify for the Spouse Tax Adjustment on Form
address.
760.
For more information on determining if you qualify for any
VIII. WHERE TO GET FORMS
credits, see the instructions for the Virginia income tax return
Forms may be downloaded from the Department's website
that you expect to file.
or requests may be addressed to: Virginia Department of
The personal exemptions, itemized or standard deductions
Taxation, Forms Request Unit, P. O. Box 1317, Richmond,
and the child and dependent care deductions, if claimed, must
VA 23218-1317, or call 804-440-2541. Do not mail your
be adjusted if you are a part-year resident. Refer to the Form
income tax return to this address.
760PY instructions for details on computing these items.
Visit the Department's website, , where
Itemized deductions may be adjusted by Fixed Date
you can obtain filing information, get answers to common
Conformity items. Refer to the income tax instructions for
questions, download forms and more.
further information.
IX. UNDERPAYMENT OF ESTIMATED INCOME TAX
IV. CHANGES IN INCOME OR EXEMPTIONS
Generally, addition to tax is imposed by law if at least 90%
2
/
Even if you do not expect your income from sources other
(66
% if you are a farmer, fisherman or merchant seaman) of
3
than wages on which Virginia tax is withheld for 2014 to
your total tax liability is not paid throughout the year by timely
be large enough to require making estimated income tax
withholding and/or installments of estimated tax. The addition
payments as of May 1, 2014, a change in income, deductions
to tax does not apply if each required installment is paid on
time and meets one of the following exceptions:
or exemptions may require you to file later in the year. If
2
/
you later determine that you need to file, see the PAYMENT
(a) is at least 90% (66
% if you are a farmer, fisherman
3
SCHEDULE.``
or merchant seaman) of the amount due on the basis
of annualized income;
If you file your 2014 income tax return and pay the balance
2
/
(b) is at least 90% (66
% if you are a farmer, fisherman
of tax due in full by March 1, 2015, you are not required to
3
or merchant seaman) of the amount due on the basis
make the estimated tax payment that would normally be due
of the actual taxable income;
on January 15, 2015. If you file your return after March 1
without making the January payment, or if you have not paid
(c) is based on a tax computed by using your income for
the proper amount of estimated tax on any earlier due date,
the preceding taxable year and the current year’s tax
you may be liable for an additional charge for underpayment
rates and exemptions;
of estimated tax, computed on Form 760C. See Section VIII
(d) is equal to or exceeds the prior year’s tax liability for
and the Form 760C instructions for more information.
each installment period and the prior year return was
for a full year and reflected an income tax liability; or
V. WHO MAY FILE A JOINT FORM 760ES
(e) the sum of all installment underpayments for the
A husband and wife may file a joint declaration unless (a)
taxable year is $150 or less.
they are legally separated or divorced, (b) they have different
If you do not meet an exception, your underpayment
taxable years, or (c) one spouse is a nonresident of Virginia
computation will be based on 90% of the current year’s
(unless both are required to file a Virginia return).
income tax liability or 100% of your liability for the preceding
If you file a joint Form 760ES, but do not file a joint income
year, whichever is less. The addition to tax is computed on
tax return, the estimated tax may be treated as the estimated
Form 760C (Form 760F for farmers, fishermen or merchant
tax of either the husband or wife, or may be divided between
seamen).
both spouses as mutually agreed. Attach a statement to the
front of each spouse's tax return that specifies the amount
claimed by each spouse.

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