Schedule 500el - Virginia Electric Suppliers Corporation Minimum Tax And Credit Schedule - 2015

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2015 virginia
eLectrIc suPPLIers
*VAELMT115888*
scHeduLe 500eL
corPoratIon MInIMuM tax
and credIt scHeduLe
department of taxation
Po box 1500
richmond, va 23218-1500
Name as shown on Virginia return
Name of electric
supplier,
if different from above
FEIN
For taxable year beginning
, 2015, and ending
, 20
Calendar year during which gross receipts were earned
Part I
MInIMuM tax rePorted by scc
00
1.
Enter the Minimum Tax as certified by the State Corporation Commission . . . . . . . . . . . . . . . . . . 1.
Part II
seParate return FILers - tax coMPutatIon
00
2.
Enter the amount from Form 500, Line 11. If greater than Line 1 above, skip to Line 9. . . . . . . . 2.
Part III
consoLIdated or coMbIned return FILers - tax coMPutatIon
00
3.
Enter the amount from consolidated or combined Form 500, Line 11 . . . . . . . . . . . . . . . . . . . . . . 3.
00
4.
Enter the amount from electric supplier's separately computed Form 500, Line 11 . . . . . . . . . . . . 4.
00
5.
Enter the smaller of the two (Line 3 or Line 4). If greater than Line 1 above, skip to Line 9 . . . . . 5.
Part Iv
MInIMuM tax coMPutatIon
6.
If separate return filer, subtract Line 2 from Line 1. If consolidated or combined return filer,
subtract Line 5 from Line 1. If greater than zero, continue to Line 7 and complete Line 8 and
00
Lines 15-17. If less than zero, enter zero and skip to Line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.
7.
Add the amount on Line 6 to the amount on Line 2 (separate filer) or Line 3 (consolidated or
combined filer). Enter this amount on Line 11 of Form 500, and replace the amount computed
00
on Form 500 and in the Electric Supplier Company section of Form 500, Page 1. . . . . . . . . . . . 7.
Part v
current year tax credIt carryover aMount
8.
Enter the amount from Line 6. This is your Minimum Tax credit amount that is available for carry
00
forward. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.
Part vI
corPorate tax coMPutatIon
9.
If the adjusted corporate tax on Line 2 or Line 5 is greater than Line 1, enter the amount by
00
which the corporate tax exceeds the Minimum Tax on Line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.
00
10. Carryover credit from prior years (Do not exceed the amount on Line 9) . . . . . . . . . . . . . . . . . . 10.
00
11. Subtract Line 10 from Line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
12. Carryover Estimated Income Tax Payments (prior to 1992). Do not exceed the amount
00
on Line 11
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.
00
13. Subtract Line 12 from Line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.
14. Add Lines 13 and 1. Enter on Line 11 of Form 500, and replace the amount computed on
00
Form 500 and in the Electric Supplier Company section of Form 500, Page 1 . . . . . . . . . . . . . . 14.
Part vII tax credIt carryover aMount
00
15. Enter the corporate tax credit from the excess Minimum Tax from Line 8 . . . . . . . . . . . . . . . . . . 15.
00
16. Enter prior year carryover credits that were not used on Line 10. . . . . . . . . . . . . . . . . . . . . . . . . 16.
00
17. Carryover credit for 2016: (Add Lines 15 and 16) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.
00
18. Enter Prior Year Estimated Payments that were not used on Line 12 . . . . . . . . . . . . . . . . . . . . . 18.
attach schedule 500eL and any other Pertinent Information to Form 500.
VA DEPT OF TAXATION
6201118
REV 09/15

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