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REQUIRED ATTACHMENTS TO FORM 760 Forms W-2, 1099 & VK-1 showing Virginia withholding. Schedule ADJ. Schedule VAC. Schedule OSC. Schedule CR. Form 760C or Form 760F. Virginia Credit Schedules. Other Virginia Statements or Schedules.
VA 760 CG: Out-of-state income included in total AGI for VA tax in ATX?. Full-year residents of Virginia must include income earned in other states to compute total Adjusted Gross Income for the appropriate tax year. Credit for taxes paid to another state may be claimed by filing Virginia Schedule OSC.
Virginia allows an exemption of $930* for each of the following: Yourself (and Spouse): Each filer is allowed one personal exemption. For married couples, each spouse is entitled to an exemption. When using the Spouse Tax Adjustment, each spouse must claim his or her own personal exemption.
Line 17 Compute Your Credit: Compare the amount entered on Line 16, Schedule ADJ, to your tax liability on Line 19, Form 760. Enter the smaller amount on Line 17, Schedule ADJ and on Line 24, Form 760. The Credit for Low-Income Individuals or Virginia Earned Income Credit is a nonrefundable credit.
If you are eligible for an out-of-state tax credit on your Virginia individual income tax return under the provisions of Section 58.1-332, Code of Virginia, complete this form to authorize your employer to allow a portion of the credit each pay period to reduce the Virginia income taxes withheld from your wages.
Interest is assessed at the federal underpayment rate established under Internal Revenue Code Section 6621, plus 2%. For the current daily interest rate, contact us at 804.367. 8031.
Yourself (and Spouse): Each filer is allowed one personal exemption. For married couples, each spouse is entitled to an exemption. When using the Spouse Tax Adjustment, each spouse must claim his or her own personal exemption.
The PTE is required to withhold 5% of the share of taxable income from Virginia sources that is allocable to each nonresident owner. The amount of withholding tax may be reduced by any tax credits that were earned by the PTE and allowable by the Code of Virginia that pass through to nonresident owners.