Fillable Form Co-1 - Virginia Corn Assessment Return printable pdf download

Corn Assessment Return Instructions

General A Virginia Corn Assessment is levied on corn produced in Virginia

Change of Address or Out-of-Business: If you change your business or

for sale. The handler (defined as a processor, dealer, shipper, country buyer

mailing address, or if you are completely out of business, complete Form

or exporter who purchases corn from farmers, a farmer who sells his/her

R‑3, Registration Change Request or notify the department by letter. Send

corn out of state, or any person acquiring property in corn from a producer,

the form or letter to the Virginia Department of Taxation, P.O. Box 1114,

when the actual or constructive possession of such corn is taken as part

Richmond, Virginia 23218-1114.

payment or in satisfaction of such claim) is responsible for payment of the

assessment. The assessment must be deducted by handlers from payments

Questions: Call (804) 786-2450 or write the Virginia Department of

to farmers for corn purchased.

Taxation, P.O. Box 715, Richmond, VA 23218-0715. If you have Internet

access, you can obtain most Virginia tax forms from the Department’s

Filing Procedure: Handlers must file the Corn Assessment and the tax paid

Web‑site:

by the handler with the Virginia Department of Taxation on or before the last

day of the month following the end of each quarter. Quarters end March 31,

Assessment Rate: The assessment is 1 cent per bushel.

June 30, September 30, and December 31.

Penalties and Interest: If the assessment is not paid when due, a penalty

Send completed return to: Virginia Department of Taxation

of 5% of the tax due will be added to the tax, and the Virginia Department

Virginia Corn Assessment

of Taxation will notify the taxpayer of such delinquency. If such deficiency is

PO Box 2185

not paid within 30 days of the notification, interest will accrue on unpaid tax

Richmond VA 23218-2185

at the rate of 1% per month, from the due date through the date paid.

Declaration and Signature: Be sure to sign, date and enter your phone

number in the space indicated.

Work Sheet For Computing Corn Assessment

Complete this Worksheet and transfer items indicated by the arrows to corresponding lines on Corn Assessment return (Form CO‑1) below.

1 Number of Bushels Handled

Enter the number of Virginia produced corn handled during this reporting period by

◄

handler from farmers. (NOTE: Any handler who is also a producer must include in this item the

number of bushels of his own corn handled.)

2 Number of Bushels Sold

Enter the number of bushels of Virginia produced corn sold during this reporting period by farmer to

◄

out‑of‑state handlers, to other farmers or to others within or outside of Virginia on which tax had not

been previously collected.

3 Total Number of Bushels

◄

Enter the total number of bushels subject to assessment. (Add Lines 1 and 2)

4 Assessment

◄

Enter the amount of the assessment at the rate of one cent per bushel. (Line 3 X $.01)

5 Penalty for Late Filing and Payment

◄

See Instructions above

6 Interest for Late Filing and Payment

◄

See Instructions above

7 Total Amount Due

◄

Enter the total amount due (Add Lines 4, 5 and 6)

Detach at dotted line below. DO NOT SEND ENTIRE PAGE.

Virginia Corn Assessment Return

Form CO-1

(Doc ID 261)

For assistance, call (804)786-2450.

□

Check if Out‑of‑Business and enter the termination/sold date

Period

Due Date

1 Number of Bushels

Handled

2 Number of Bushels Sold

0000000000000000 2618888 000000

3 Total Number of Bushels

Account Number

FEIN

(Add Lines 1 and 2)

Name

4 Tax

(Line 3 X $.01)

Address

5 Penalty for Late Filing

and Payment

City

State

Zip

6 Interest for Late Filing

and Payment

I declare that this return (including accompanying schedules and statements) has been

examined by me and to the best of my knowledge and belief is true, correct and complete.

Total Amount Due

(Add Lines 4, 5 and 6)

Signature

Date

Phone Number

Va. Dept. of Taxation CO‑AR W REV 5/06

Form Co-1 - Virginia Corn Assessment Return

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