Form 760es - Virginia Estimated Income Tax Payment Vouchers For Individuals - 2012 Page 2
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7VI. WHERE TO FILE
TAX RATE SCHEDULE
Send the first voucher filed for the taxable year to the
I
F YOUR VIRGINIA TAXABLE INCOME IS:
address shown for the Commissioner of the Revenue, Director
Not over $3,000, your tax is 2% of your Virginia taxable income.
of Finance or Director of Tax Administration for your Virginia
but not
your tax
of excess
city or county. If you are a nonresident, file your first voucher
over...
over...
is...
over...
with the Commissioner of the Revenue, Director of Finance,
or Director of Tax Administration for the city or county in which
$
3,000
$ 5,000
$ 60 + 3%
$ 3,000
the principal portion of the income from Virginia sources was
$
5,000
$17,000
$ 120 + 5%
$ 5,000
received. If filing is not required until after May 1, see the
$ 17,000
$ 720 + 5.75%
$ 17,000
PAYMENT SCHEDULE for information on which voucher to
TAX CREDITS and ADJUSTMENTS
file. File the remaining vouchers with the Treasurer for your
city or county using the addresses at the end of this document.
You may claim an expected tax credit or adjustment on the
VII. WHERE TO GET HELP AND FORMS
worksheet if:
If you need assistance completing your return, call or visit
(a) you are a resident of Virginia and you will pay income
the Commissioner of the Revenue, Director of Finance, or
tax to another state as a nonresident, except for the
Director of Tax Administration for your city or county, or the
states of Arizona, California, Oregon or the District
Department of Taxation. Mailing addresses and telephone
of Columbia;
numbers are listed at the end of this document. Requests
(b) you are a resident of one or more of the states listed
for information may also be addressed to the: Virginia
above and you will pay income tax to Virginia as a
Department of Taxation, P. O. Box 1115, Richmond, VA
nonresident; or
23218-1115, or call 804-367-8031. Do not mail your income
(c) you expect to qualify for one of the other available
tax return to this address or to the address below.
individual income tax credits.
Requests for forms from the Department of Taxation can
(d) you qualify for the spouse tax adjustment on Form 760
be addressed to: Virginia Department of Taxation, Forms
Request Unit, P. O. Box 1317, Richmond, VA 23218-1317,
For more information on determining if you qualify for any
or call 804-440-2541.
credits, see the instructions for the Virginia income tax return
that you expect to file.
Visit our website, , where you can
obtain filing information, get answers to common questions,
The personal exemptions, itemized or standard deductions,
download forms, and more.
and the child and dependent care deductions, if claimed, must
be adjusted if you are a part-year resident. Refer to the Form
VIII. UNDERPAYMENT OF ESTIMATED INCOME TAX
760PY instructions for details on computing these items.
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An addition to tax is imposed by law if at least 90% (66
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Itemized deductions may be adjusted by Fixed Date
if you are a farmer, fisherman or merchant seaman) of your
Conformity items. Refer to the income tax instructions for
total tax liability is not paid throughout the year by timely
further information.
withholding and/or installments of estimated tax except in
IV. CHANGES IN INCOME OR EXEMPTIONS
certain situations. The addition to tax does not apply if each
Even if you do not expect your income from sources other
required installment is paid on time and meets one of the
than wages on which Virginia tax is withheld for 2012 to
following exceptions:
be large enough to require making estimated income tax
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(a) is at least 90% (66
% if you are a farmer, fisherman
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payments as of May 1, 2012, a change in income, deductions
or merchant seaman) of the amount due on the basis
or exemptions may require you to file later in the year. If
of annualized income;
you later determine that you need to file, see the PAYMENT
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(b) is at least 90% (66
% if you are a farmer, fisherman
SCHEDULE.
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or merchant seaman) of the amount due on the basis
If you file your 2012 income tax return and pay the balance
of the actual taxable income;
of tax due in full by March 1, 2013, you are not required to
(c) is based on a tax computed by using your income for
make the estimated tax payment that would normally be due
the preceding taxable year and the current year’s tax
rates and exemptions;
on January 15, 2013. If you file your return after March 1
without making the January payment, or if you have not paid
(d) is equal to or exceeds the prior year’s tax liability for
the proper amount of estimated tax on any earlier due date,
each installment period and the prior year return was
you may be liable for an additional charge for underpayment
for a full year and reflected an income tax liability; or
of estimated tax, computed on Form 760C. See Section VIII
(e) the sum of all installment underpayments for the
and the Form 760C instructions for more information.
taxable year is $150 or less.
V. WHO MAY FILE A JOINT FORM 760ES
If you do not meet an exception, your underpayment
A husband and wife may file a joint declaration unless (a)
computation will be based on 90% of the current year’s
they are legally separated or divorced, (b) they have different
income tax liability or 100% of your liability for the preceding
taxable years, or (c) one is a nonresident of this state (unless
year, whichever is less. The addition to tax is computed on
both are required to file a Virginia return).
Form 760C (Form 760F for farmers, fishermen or merchant
If you file a joint Form 760ES, but do not file a joint income
seamen).
tax return, the estimated tax may be treated as the estimated
tax of either husband or wife, or may be divided between both
spouses as mutually agreed. Attach a statement to the front
of each spouse's tax return that specifies the amount claimed
Va. Dept of Taxation, 2601037, Rev. 05/11
by each spouse.
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