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  • Va Dot 502 2022

Get Va Dot 502 2022-2025

2022 Virginia Form 502Virginia Department of Taxation P.O. Box 1500 Richmond, VA 232181500PassThrough Entity Return of Income and Return of Nonresident Withholding Tax VA0PTE122888* Official Use.

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eForm 502W lets you make withholding payments directly from your PTE's checking account. ACH credit is available for tax due payments or withholding payments if paying separately from filing the return. You'll need to set this up with your PTE's bank.

The 502PTET form must be filed electronically. Find a list of approved software products here. For Tax Year 2021, 2022, and 2023 filers, a free electronic filing option is available through your online business account. Tax Year 2021 returns must be filed using this option.

The Form 502 should (1) report nonresident withholding only for income attributable to ineligible owners who are also nonresident owners subject to the withholding requirements (e.g., the nonresident corporate owners of the PTE) and (2) attach Schedules VK-1 to Form 502 only for such ineligible owners.

Limited liability companies (LLCs). LLCs are considered pass-through entities because they are not subject to corporate income taxes. Instead, the owner(s) reports the proceeds as federal income for the business and is then taxed at the individual income tax rate.

By default, LLCs themselves don't pay income taxes, only their members do. No franchise tax. Some states do impose a separate tax or fee on LLCs for the privilege of doing business in the state. Virginia does impose an annual registration fee (see above).

Electing PTEs are taxed at a rate of 5.75%. Eligible owners of a PTE are: natural persons who are subject to Virginia income tax, or. estates or trusts subject to Virginia income tax.

A pass-through business is a sole proprietorship, partnership, or S corporation that is not subject to the corporate income tax; instead, this business reports its income on the individual income tax returns of the owners and is taxed at individual income tax rates.

The sales tax rate for most locations in Virginia is 5.3%. Several areas have an additional regional or local tax as outlined below. In all of Virginia, food for home consumption (e.g. grocery items) and certain essential personal hygiene items are taxed at a reduced rate of 1%.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
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