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Virginia Schedule of Affiliated Corporations Consolidated and Combined Filers
Extracted from PDF file 2023-virginia-form-500ac.pdf, last modified August 2023Schedule of Affiliated Corporations Consolidated and Combined Filers
2023 Virginia Schedule 500AC Affiliated Corporations Consolidated and Combined Filers *VASCAC123888* Complete Schedule 500AC for each affiliate and submit with the parent company’s combined or consolidated Virginia Form 500 group return. Parent Company Name (as shown on Virginia Form 500 group return) Parent Company FEIN (as shown on Virginia Form 500) Affiliate Name Affiliate FEIN Street Address or P.O. Box NAICS Code City or Town State Description of Business Activity Membership Begin Date (mm/dd/yyyy) ZIP Code Membership Termination Date (mm/dd/yyyy) SECTION A – INCOME COMPUTATION Virginia Corporation Income Computation – Affiliated Member’s Share of Income Reported on Form 500. 1. Federal taxable income after NOL and special deductions............................................................................. 1. .00 2. Total Virginia additions (Section D, Line 7)...................................................................................................... 2. .00 3. Add Lines 1 and 2........................................................................................................................................... 3. .00 4. Total Virginia subtractions (Section D, Line 17)............................................................................................... 4. .00 5. Savings and loan association bad debt deduction.......................................................................................... 5. .00 6. Add Lines 4 and 5........................................................................................................................................... 6. .00 7. Virginia taxable income (Subtract Line 6 from Line 3)..................................................................................... 7. .00 Income Apportionment – Affiliated Member’s Share of Income Reported on Schedule 500A. 8. Total dividends (allocable income).................................................................................................................. 8. .00 9. Nonapportionable investment function income............................................................................................... 9. .00 10. Add Lines 8 and 9........................................................................................................................................... 10. .00 11. Nonapportionable investment function loss..................................................................................................... 11. .00 12. Total nonapportionable income (Subtract Line 11 from Line 10)..................................................................... 12. .00 13. Income subject to apportionment (Subtract Line 12 from Line 7).................................................................... 13. .00 14. Income apportioned to Virginia (Multiply Line 13 by the percentage on Line 1 or Line 2d in Section C below)...... 14. .00 15. Dividends allocated to Virginia........................................................................................................................ 15. .00 16. Income subject to Virginia tax (Add Lines 14 and 15)..................................................................................... 16. .00 SECTION B – APPORTIONMENT METHOD (See instructions for Schedules 500A and 500AP for information on apportionment methods.) 1. Motor Carrier Mileage Factor . . . . . . . . . . . . . . . . . . . . . . . . . . . If an exception applies, check the applicable box below: Exception 1 7. Manufacturer’s Modified Apportionment Method Sales Factor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (a) Enter beginning date of election year _____/_____/_____ Exception 2 4. Railway Company Revenue Car Miles. . . . . . . . . . . . . . . . . . . . (b) Wage and employment certification required each year: Check to certify that the average weekly wages of the full‑time employees is greater than the lower of the state or local average weekly wages for its industry, and that the average annual number of full-time employees of the manufacturing company is at least 90% of the base year employment.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. Retail Company Apportionment. . . . . . . . . . . . . . . . . . . . . . . . . 8. Enterprise Data Center Operation. . . . . . . . . . . . . . . . . . . . . . . . . . 6. Debt Buyers Apportionment. . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. Multi-Factor Formula With Double Weighted Sales. . . . . . . . . . . . 2. Financial Corporation Cost of Performance Factor. . . . . . . . . 3. Construction Corporation Completed Contract Basis Sales Factor. . . . . . . . . . . . . . . . . . SECTION C – APPORTIONMENT COMPUTATION See instructions for Schedules 500A and 500AP for information on apportionment computations. 1. Single Factor Computation: motor carriers, financial companies, construction companies, railway companies, retail companies, debt buyers, manufacturers that elected the modified apportionment method in Section B, and certain enterprise data center operations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Multi-Factor Computation: For Lines 2(a) through 2(c), divide the amount in Column B by the amount in Column A to compute the Column C percentage. Column A TOTAL Column B VIRGINIA Column C PERCENTAGE 1. .00 .00 % (a) Property Factor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2(a) .00 .00 % (b) Payroll Factor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2(b) .00 .00 % (c) Sales Factor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2(c) .00 .00 % (d) Multi-Factor Percentage: Double-Weighted Sales Factor Formula: [Line a + Line b + 2(Line c)] ÷ 4. . . . . . . . . . . . . . . . . . . . . 2(d) % Va. Dept. of Taxation 2601000-W Rev. 08/23 2023 Virginia Schedule 500AC Page 2 Affiliated Corporations Consolidated and Combined Filers *VASCAC223888* Affiliate Name____________________________________________________________ Affiliate FEIN_________________________ SECTION D – AFFILIATE'S SHARE OF ADJUSTMENTS REPORTED ON SCHEDULE 500ADJ Virginia Additions (see Form 500 Instructions) 1. Conformity addition (depreciation)............................................................................................................................... 1. .00 2. Conformity addition (other)........................................................................................................................................... 2. .00 3. Taxable addition from Schedule 500AB, Line 10.......................................................................................................... 3. .00 4. Net income tax and other taxes based on, measured by, or computed with reference to the net income................... 4. .00 5. Interest on state obligations other than Virginia........................................................................................................... 5. .00 6. Other additions – See Form 500 Instructions for addition codes. 7. Code 6a. ...................................................................... 6a. .00 6b. ...................................................................... 6b. .00 6c. ...................................................................... 6c. .00 Total Additions – Add Lines 1-5 and 6a-6c. Enter here and on Line 2, Section A...................................................... 7. .00 Virginia Subtractions (see Form 500 Instructions) 8. Conformity subtraction (depreciation).......................................................................................................................... 8. .00 9. Conformity subtraction (other)...................................................................................................................................... 9. .00 10. Income from obligations or securities of the U.S. exempt from state income taxes, but not from federal income taxes.................................................................................................................................................... 10. .00 11. Foreign dividend gross-up (IRC § 78).......................................................................................................................... 11. .00 12. Refund or credit of income tax included in federal taxable income.............................................................................. 12. .00 13. Subpart F income (IRC § 951) and/or Global Intangible Low-Taxed Income (IRC § 951A)......................................... 13. .00 14. Foreign source income subtraction allowed by Va. Code § 58.1-402 C 8.................................................................... 14. .00 15. Dividends received from corporations in which the recipient owns 50% or more of the voting stock, to the extent remaining in federal taxable income............................................................................................................................. 15. .00 16. Other subtractions – See Form 500 Instructions for subtraction codes. Certification Number 17. Code 16a. ...................................................................... 16a. .00 16b. ...................................................................... 16b. .00 16c. ...................................................................... 16c. .00 Total Subtractions – Add lines 8-15 and 16a-16c. Enter here and on Line 4, Section A............................................ 17. .00 SECTION E – FEDERAL LINE ITEMS Form 1120, Deductions and Taxable Income Federal taxable income before NOL and special deductions...................................................................................... 1. .00 2. 1. Net operating loss deduction....................................................................................................................................... 2. .00 3. Special deductions...................................................................................................................................................... 3. .00 4. .00 Form 1120, Schedule K or M-1 4. Tax-exempt interest..................................................................................................................................................... Form 4562, Special Depreciation Allowance and Other Depreciation 5. Special depreciation allowance for qualified property placed in service during the taxable year................................ 5. .00 6. Property subject to 168(f)(1) election.......................................................................................................................... 6. .00 7. Other depreciation....................................................................................................................................................... 7. .00
2023 Schedule 500AC - Virginia Affiliated Corporations Consolidated and Combined Filers
More about the Virginia Form 500AC Corporate Income Tax TY 2023
We last updated the Schedule of Affiliated Corporations Consolidated and Combined Filers in January 2024, so this is the latest version of Form 500AC, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 500AC directly from TaxFormFinder. You can print other Virginia tax forms here.
Other Virginia Corporate Income Tax Forms:
TaxFormFinder has an additional 135 Virginia income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form RR 6-2 | RR 6-2 (1601110) Class 6 - Schedule 2 - Machinery, Equipment and Apparatus, Etcetera |
| Form BRU | Application for Barge and Rail Usage Tax Credit |
| Form ITF | Application for International Trade Facility Tax Credit |
| Form GJC | GJC -Application for Green Jobs Creation Tax Credit |
| Form 770 | VA Fiduciary Income Tax Return |
View all 136 Virginia Income Tax Forms
Form Sources:
Virginia usually releases forms for the current tax year between January and April. We last updated Virginia Form 500AC from the Department of Taxation in January 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Virginia Form 500AC
We have a total of thirteen past-year versions of Form 500AC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form 500AC
2023 Schedule 500AC - Virginia Affiliated Corporations Consolidated and Combined Filers
2022 Form 500AC
2022 Schedule 500AC - Virginia Affiliated Corporations Consolidated and Combined Filers
2021 Form 500AC
2021 Schedule 500AC - Virginia Affiliated Corporations Consolidated and Combined Filers
2020 Form 500AC
2020 Schedule 500AC - Virginia Affiliated Corporations Consolidated and Combined Filers
2019 Form 500AC
2019 Schedule 500AC - Virginia Affiliated Corporations Consolidated and Combined Filers
2018 Form 500AC
2018 Schedule 500AC - Virginia Affiliated Corporations Consolidated and Combined Filers
2017 Form 500AC
2017 Schedule 500AC - Virginia Affiliated Corporations Consolidated and Combined Filers
2016 Form 500AC
2016 Schedule AC - Virginia Affiliated Corporations Consolidated and Combined Filers
2015 Form 500AC
Form 500AC 2015 Schedule of Affiliated Corporations Consolidated and Combined Filers
2014 Form 500AC
500AC 14 ER Web 09 03 14.indd
2013 Form 500AC
500AC
2012 Form 500AC
500AC 12 final 08 02 12.indd
2011 Form 500AC
500AC 11 early release 10 12 11.indd
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