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VA-8879P Virginia Department of Taxation Virginia Pass-Through Entity Return of Income and Return of Nonresident Withholding Tax e-file Signature Authorization Tax Year 2014 DO NOT SEND THIS VA-8879P.

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By default, LLCs themselves do not pay income taxes, only their members do. ... Unlike the default pass-through tax situation, when an LLC elects to be taxed as a corporation, the company itself must file a separate tax return. The State of Virginia, like almost every other state, has a corporation income tax.

What is a pass-through entity ? A pass-through entity is any business that is recognized as a separate entity for federal income tax purposes and the owners of which report their distributive or pro rata shares of the entity's income, gains, losses, deductions, and credits on their own returns.

By default, LLCs themselves do not pay income taxes, only their members do. ... Unlike the default pass-through tax situation, when an LLC elects to be taxed as a corporation, the company itself must file a separate tax return. The State of Virginia, like almost every other state, has a corporation income tax.

A pass-through entity is an S corporation, partnership, or a limited liability company treated as a partnership for federal income tax purposes. Many pass-through entities arenot qualifying pass- through entities and are therefore not subject to this tax.

Owners pay taxes on their share of the business profits in accordance with the individual income tax code. Among the major types of business entities, only the C-corporation is not a pass-through business. So when deciding on a business structure, you're essentially deciding between a pass-through entity and a C-corp.

If you need to change or amend an accepted Virginia State Income Tax Return for the current or previous Tax Year you need to complete Form 760. Form 760 is a Form used for the Tax Return and Tax Amendment. You can prepare a 2020 Virginia Tax Amendment Form on eFile.com, however you can not submit it electronically.

Most US businesses are taxed as pass-through (or flow-through) entities that, unlike C-corporations, are not subject to the corporate income tax or any other entity-level tax. Instead, their owners or members include their allocated shares of profits in taxable income under the individual income tax.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232