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2012

COMMONWEALTH OF VIRGINIA

FORM 500ES (2012)

CORPORATION ESTIMATED INCOME

TAX PAYMENT VOUCHERS

GENERAL INFORMATION

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Any corporation with an income liability that exceeds $1,000 (after

The Tax Website has lots of information to help you with your tax

tax credits) is required to file estimated payments. Businesses with

filing responsibilities.

an average monthly liability exceeding $20,000 are required by law

If you can’t find what you’re looking for try our Live

to pay their taxes by Electronic Funds Transfer (EFT). Taxpayers

Chat feature. A Tax Representative is available on-

who are identified as mandatory EFT filers will be notified by first

line to assist you.

class mail to begin making payments by EFT. Payments required

e-Alert: With our free e-Alert service, we’ll send you e-mails on

to be made by EFT that are submitted by check are subject to Late

topics you select. You can even get reminders about upcoming

Payment penalties.

return due dates. Sign up today on our website!

Taxpayers who do not have an average monthly liability of $20,000

File Online: You can pay your estimated taxes online through

may voluntarily choose to pay their corporation tax payments by

Business iFile or e-Forms.

EFT. Payments are made directly to the Tax Department’s bank from

Forms Online: Virginia tax forms are available for download.

your business bank account. EFT not only saves you the cost and

inconvenience of writing checks, but also, ensures that your return

Secure E-mail: Use our Business iFile Secure Message Center.

payment will be made on time without the worry of a check being lost

Other Inquiries: Call 804-367-8037 or write Virginia Department

in the mail. For more information, call the Office of Customer

of Taxation, P.O. Box 1115, Richmond, VA 23218-1115. Do not

Services at (804) 367-8037.

mail returns to this address.

INSTRUCTIONS FOR 2012

DECLARATION OF ESTIMATED INCOME TAX FOR CORPORATIONS

1. FILING REQUIREMENTS

Every corporation subject to state income taxation must make

filed and the number and the dollar amount of installments to be

a declaration of estimated income tax for the taxable year if the

paid. You are not required to annualize your income if the short

taxable year does not change your accounting period.

corporation’s state income tax for the same period, reduced by the

allowable tax credits, can be expected to exceed $1,000.

5. CONSOLIDATED OR COMBINED ESTIMATED TAX

2. WHERE TO FILE AND PAY

An affiliated group filing a consolidated or combined return shall file

a declaration of estimated tax on the same basis as a corporation

The declaration must be filed with the Virginia Department

of Taxation, P.O. Box 1500, Richmond, VA 23218-1500. The

for each taxable year. A consolidated or combined return shall be

declaration must be accompanied by a check or money order, made

considered the return of a single taxpayer for the purpose of Va.

Code §§ 58.1-500 through 58.1-504.

payable to the Virginia Department of Taxation, for the amount of

the installment due.

6. FAILURE TO PAY

3. WHEN TO FILE AND PAY

Underpayment of estimated income tax payments will result in an

addition to the tax from the due date of the install ment until paid,

Taxpayers filing on a fiscal year or calendar year basis should follow

the declaration and payment schedule in the table shown below.

or until the due date for filing the return, whichever is earlier. If the

corporation has an underpayment of estimated tax and believes

4. SHORT TAXABLE YEAR

an addition to the tax should not be assessed, Form 500C,

A declaration of estimated income tax is not required for a period

Corporation Underpayment of Estimated Tax, must be attached to

of less than twelve months, if:

the corporation’s income tax return along with supporting schedules

(a) the period is less than four months; or

which support the applicable exception (included in Va. Code §

(b) the filing requirements are first met after the first day of

58.1-504 (D)).

the last month in the short taxable year.

Compute taxable income for the short taxable period on an annual

basis by multiplying the income amount by twelve and dividing the

result by the number of months in the short period. Refer to the

table shown below to determine the date the declaration is to be

DECLARATION AND PAYMENT SCHEDULE

The date the declaration is to be filed and the number and amount of installments to be paid is determined in accordance with the following table.

If the requirements are first met—

The declaration shall be filed

The number

The following percentages of the estimated tax

on or before—

of installments

shall be paid on or before the 15th day of the —

to be paid is—

4th month

6th month

9th month

12th month

before the 1st day of the 4th month of

the 15th day of the 4th month

the taxable year

of the taxable year

25%

after the last day of the 3rd month and

the 15th day of the 6th month

before the 1st day of the 6th month

of the taxable year

.......

33 1/3%

of the taxable year

after the last day of the 5th month and

the 15th day of the 9th month

before the 1st day of the 9th month

of the taxable year

......

.......

50%

of the taxable year

after the last day of the 8th month and

the 15th day of the 12th month

before the 1st day of the 12th month

of the taxable year

......

100%

of the taxable year

VA DEPT OF TAXATION

2601010 REV. 1/13

Form 500es - Commonwealth Of Virginia Corporation Estimated Income Tax Payment Vouchers - 2012

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