Get VA DoT 502 2011

A pass-through entity is any entity other than an individual estate or trust 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.

In other words, the responsibility for paying federal income taxes passes through the LLC itself and falls on the individual LLC members. By default, LLCs themselves do not pay income taxes, only their members do. ... In Virginia, the corporate tax is a flat 6% of net income from Virginia sources.

Virginia's corporation income tax is assessed at a flat rate of 6% on net income.

Sales Tax. Along with state and federal tax requirements, LLCs may be responsible for collecting sales tax on the products and services they sell. In the case of an LLC, its members must collect any required sales taxes and deliver them to the required parties.

In Wisconsin, an annual report is a regular filing that your LLC must complete every year. The report is essentially updating your registered agent address and paying a $25 fee. All LLCs are required to file their annual report with the Virginia Secretary of State.

Gross receipts (or the cost of purchases if Merchant is taxable on purchases) from sales delivered in Ohio are deductible from Merchant's Virginia BPOL taxable gross receipts. ... To be liable for an income or income-like tax, Merchant must file a tax return for an income or income like tax in the state or foreign country.

Only five states, Delaware, Nevada, Ohio, Texas, and Washington, have statewide gross receipts tax (see map below).

To calculate the sales tax that is included in a company's receipts, divide the total amount received (for the items that are subject to sales tax) by "1 + the sales tax rate". In other words, if the sales tax rate is 6%, divide the sales taxable receipts by 1.06.

A gross receipts tax or gross excise tax is a tax on the total gross revenues of a company, regardless of their source. A gross receipts tax is similar to a sales tax, but it is levied on the seller of goods or service consumers.

Florida Gross Receipts Tax on Utility Services. Gross Receipts Tax on Utility Services is imposed at the rate of 2.5% on the sale, delivery, or transportation of natural gas, manufactured gas (excluding liquefied petroleum [LP] gas), or electricity to a retail consumer in Florida.

The Commonwealth of Virginia's filing fee for LLC Articles of Organization is $100. There's also an online convenience fee of around $3. When you hire Northwest, your total, out-the-door cost is $328, including filing fees, registered agent service, and loads of useful forms to help you launch your Virginia LLC.

STEP 1: Name your Virginia LLC. ... STEP 2: Choose a Registered Agent in Virginia. ... STEP 3: File the Virginia Articles of Organization. ... STEP 4: Create an Operating Agreement. ... STEP 5: Get an EIN.

Virginia requires LLCs to pay an annual registration fee to the State Corporation Commission each year after the year the company was formed. For limited liability companies, the annual registration fee is $50.

When filing federal copies of forms 1099 with the IRS from the state of Virginia the mailing address is: Department of the Treasury , Internal Revenue Service Center Austin, TX 73334.

You're only required to file 1099s with the Virginia Department of Revenue when reporting income withholding. You'll also need to submit form VA-6 to report any withholding.