Form 502w - Pass-Through Entity Withholding Tax Payment

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Pass-Through Entity Withholding Tax Payment
Pass-through entity withholding tax payments may be made electronically. Visit the Department’s
website at for additional information and to make a payment.
Exempt Entities
General Information
Every pass-through entity (PTE) doing business in the Commonwealth
The PTE will not be required to pay the withholding tax if it:
that has taxable income derived from Virginia sources and that must
• Is a Publicly Traded Partnership
allocate any portion of that income to a nonresident owner is required
• Is a Disregarded Entity
to pay the withholding tax. The PTE is required to withhold 5% of
• Files a Unified Return on Behalf of All Nonresident Owners
the share of taxable income from Virginia sources that is allocable
Undue Hardship
to each nonresident owner. The amount of withholding tax may
be reduced by any tax credits that were earned by the PTE and
If a PTE believes that the withholding requirement causes an undue
allowable by the Code of Virginia that pass through to nonresident
hardship, the PTE may apply to the Tax Commissioner requesting
owners.
an exemption. In addition to any other information that is pertinent
to the PTE’s petition for relief, the letter shall provide information
PTE Electronic Filing
that will enable the Tax Commissioner to compare and evaluate the
Beginning on January 1, 2014, PTEs may file their returns
cost to the PTE of complying with the withholding tax requirements,
electronically using e-File for the taxable year 2013 and thereafter.
and the cost to the Commonwealth of collecting income tax from
How to Make Withholding Tax Payments Electronically
any nonresident owners that do not voluntarily file Virginia income
The Department provides two secure online options for submitting
tax returns and pay the tax.
withholding payments: eForms and Business iFile. Payments
Exempt Owners
are made by Debit EFT and you may schedule your payment for a
The PTE must pay the withholding tax for all nonresident owners,
future date.
with the following exceptions:
A PTE may also make its estimated tax payments using an ACH
• Individuals who are exempt from paying federal income taxes
Credit transaction through its bank. Some banks may charge a fee
based on their status or who are exempt from Virginia income
for this service. An Electronic Payment Guide is available at www.
taxes. The exemption must apply to the individual’s share of the
tax.virginia.gov with information on how to submit ACH Credit
PTE’s income. Examples are diplomatic immunity and individuals
payments to the Department.
who did not have any liability for Virginia income tax in the previous
How to Make Withholding Tax Payments by Mail
year and who do not expect to have any liability in the current year.
Mail returns and payments to the Virginia Department of Taxation,
• Entities other than individuals and corporations that are exempt
PO Box 1500, Richmond, VA 23218-1500.
from paying federal income taxes by reason of their purpose or
When to File and Pay
activities. The exemption from federal income tax must apply to
the entity’s share of the PTE’s income. Examples of such exempt
The withholding tax payment is due on the due date of the PTE’s
entities are:
return regardless of whether the extension to file Form 502 is used.
For calendar year filers, the withholding tax payment is due on April
• Other PTEs. Generally, a PTE does not need to withhold for a
15, 2014.
nonresident owner that is also a PTE. These nonresident owner
PTEs are responsible for filing their own Forms 502 and must pay
Purpose of Form
the withholding tax for their nonresident owners’ shares of income
The PTE withholds and remits tax using a payment voucher, Form
from Virginia sources. If a PTE is notified by a nonresident owner
502W. Form 502W is used to make a withholding payment prior to
PTE that the nonresident owner PTE is not going to file a Form 502,
filing Form 502. This will occur most often when the PTE utilizes
then the PTE is required to withhold on the nonresident owner PTE.
the automatic extension to file. Form 502W can also be used to
Caution: If a PTE withholds on a nonresident owner PTE, the
make a withholding payment prior to the due date. Do not enclose
nonresident owner PTE cannot claim credit for such withholding on
Form 502W with your Form 502. Instead, use Form 502V, payment
its Form 502 for such withholding. PTE withholding is not “generation
voucher, to make payments with your return.
skipping” and does not pass through an intermediate PTE to owners
that are more than one level of ownership away. In the event a PTE
Detach at dotted line below. DO NOT SEND ENTIRE PAGE.
Form 502W
Pass-Through Entity Withholding Tax Payment
VIRGINIA DEPARTMENT OF TAXATION
(Doc ID 522)
Save time and energy by making this payment
electronically. Use this voucher to make your
PO BOX 1500, RICHMOND, VA 23218-1500
For assistance, call (804) 367-8037.
advance payments of withholding tax by mail. For
payments that accompany Form 502, use Form 502V.
Check if initial filer
(This is the first year filing a PTE return.)
To receive credit for your payment in the
correct taxable year, please enter the
0000000000000000 5220000 00000
ending month (numerical) and year.
Month Ending Year Ending
12
Federal Employer ID Number
Entity Type
NAICS Code
Calendar year:
OR;
Fiscal year:
OR;
Name of Pass-Through Entity
Short taxable year:
Address (Number and Street)
Address Continued
City, State and ZIP Code
$
.
I declare that this return (including accompanying schedules and statements) has been examined
Amount of Payment
by me and to the best of my knowledge and belief is true, correct and complete.
Signature
Date
Phone Number
Va. Dept. of Taxation 2601021
REV 06/13

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