Virginia Electric Suppliers Tax

Electric Suppliers Tax
2023 Schedule 500EL - Virginia Electric Suppliers Corporation Minimum Tax and Credit Schedule
2023 Virginia
Schedule 500EL
Department of Taxation
P.O. Box 1500
Richmond, VA 23218-1500

Electric Suppliers Corporation
Minimum Tax and
Credit Schedule

*VAELMT123888*

Name as shown on Virginia return
Name of electric supplier, if different from above
FEIN

For taxable year beginning

, 2023;

, 20

and ending

Calendar year during which gross receipts were earned

Part I – Minimum Tax Reported By SCC
1. Enter the minimum tax as certified by the State Corporation Commission.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

1.

.00

2.

.00

3. Enter the amount from consolidated or combined Form 500, Line 11.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

3.

.00

4. Enter the amount from electric supplier’s separately computed Form 500, Line 11.  .  .  .  .  .  .  .  .  .  .  .  .  .

4.

.00

5. Enter the smaller of the two (Line 3 or Line 4). If greater than Line 1 above, skip to Line 9.  .  .  .  .  .  .

5.

.00

6. If separate return filer, subtract Line 2 from Line 1. If consolidated or combined return filer,subtract
Line 5 from Line 1. If greater than zero, continue to Line 7 and complete Line 8 and Lines 15-17.
If less than zero, enter zero and skip to Line 9. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

6.

.00

7. Add the amount on Line 6 to the amount on Line 2 (separate filer) or Line 3 (consolidated or
combined filer). Enter this amount on Line 11 of Form 500, and replace the amount computed on
Form 500 and in the Electric Supplier Company section of Form 500, Page 1.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

7.

.00

8.

.00

9.

.00

10. Carryover credit from prior years (Do not exceed the amount on Line 9).  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 10.

.00

11. Subtract Line 10 from Line 9 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 11.

.00

12. Carryover estimated income tax payments (prior to 1992). Do not exceed the amount on Line 11 . . 12.

.00

13. Subtract Line 12 from Line 11 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 13.

.00

14. Add Line 13 and Line 1. Enter on Line 11 of Form 500, and replace the amount computed on
Form 500 and in the Electric Supplier Company section of Form 500, Page 1.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 14.

.00

Part II – Separate Return Filers - Tax Computation
2. Enter the amount from Form 500, Line 11. If greater than Line 1 above, skip to Line 9..  .  .  .  .  .  .  .  .  .

Part III – Consolidated Or Combined Return Filers – Tax Computation

Part IV – Minimum Tax Computation

Part V – Current Year Tax Credit Carryover Amount
8. Enter the amount from Line 6. This is your minimum tax credit amount that is available for
carryforward .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

Part VI – Corporate Tax Computation
9. If the adjusted corporate tax on Line 2 or Line 5 is greater than Line 1, enter the amount by which
the corporate tax exceeds the minimum tax on Line 1. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

Part VII – Tax Credit Carryover Amount
15. Enter the corporate tax credit from the excess minimum tax from Line 8.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 15.

.00

16. Enter prior year carryover credits that were not used on Line 10. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 16.

.00

17. Carryover credit for 2024 (Add Lines 15 and 16). .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 17.

.00

18. Enter prior year estimated payments that were not used on Line 12. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 18.

.00

Enclose Schedule 500EL and any other pertinent information with Form 500, Virginia Corporation Income Tax Return.

Va. Dept. of Taxation  6201118-W  Rev. 08/23