Virginia 500ES - Forms and Instructions for Declaration of Estimated Income Tax

500ES - Forms and Instructions for Declaration of Estimated Income Tax
2024 Form 500ES - Corporation Estimated Income Tax Payment Vouchers
Virginia
Form 500ES

2024

Corporation Estimated Income Tax
Payment Vouchers

All corporation estimated income tax payments must be made electronically.
Use these vouchers only if you have an approved waiver.
General Information

Short Taxable Year

Every corporation subject to state income taxation must make
a declaration of estimated income tax for the taxable year if the
corporation’s state income tax for the same period, reduced by the
allowable tax credits, can be expected to exceed $1,000.

A declaration of estimated income tax is not required for a period of
less than 12 months, if:
(a)	 the period is less than 4 months; or
(b)	 the filing requirements are first met after the 1st day of the
last month in the short taxable year.

Corporation Electronic Filing Requirement
All corporations are required to file their annual income tax returns
and make all payments electronically. If you are unable to file and pay
electronically you may request a waiver. You can obtain the waiver
request form at www.tax.virginia.gov or by calling (804) 367-8037.

How to Make Estimated Tax Payments Electronically
The Department provides two secure online options for submitting
estimated payments: eForms and Business Online Services.
Payments are made by Debit EFT and you may schedule your
payment for a future date.
A corporation may also make its estimated tax payments using an
ACH credit transaction through its bank. Some banks may charge
a fee for this service. An Electronic Payment Guide is available on
the Department’s website with information on how to submit ACH
credit payments to the Department.

How to Make Estimated Tax Payments by Mail
If you have an approved waiver from the electronic payment
requirement, use these vouchers to make your declaration. Make
your check or money order payable to: Virginia Department of
Taxation. Send the completed voucher and payment to:
Virginia Department of Taxation
P.O. Box 1500
Richmond, VA 23218-1500

When to File and Pay
Taxpayers filing on a fiscal year or calendar year basis should follow
the declaration and payment schedule in the table shown below.
Vouchers are to be filed in numerical order beginning with Voucher 1
for the 1st quarter, Voucher 2 for the 2nd quarter, and so forth.

Compute taxable income for the short taxable period on an annual
basis by multiplying the income amount by 12 and dividing the
result by the number of months in the short period. Refer to the
table shown below to determine the date the declaration is to be
filed and the number and the dollar amount of installments to be
paid. You are not required to annualize your income if the short
taxable year does not change your accounting period.

Consolidated or Combined Estimated Tax
An affiliated group filing a consolidated or combined return
must file a declaration of estimated tax on the same basis as a
corporation for each taxable year. A consolidated or combined
return is considered the return of a single taxpayer for the purpose
of Va. Code §§ 58.1‑500 through 58.1‑504.

Failure to Pay
Underpayment of estimated income tax payments will result in an
addition to the tax from the due date of the installment until paid,
or until the due date for filing the return, whichever is earlier. If the
corporation has an underpayment of estimated tax and believes
an addition to the tax should not be assessed, Form 500C,
Underpayment of Virginia Estimated Tax by Corporations, must
be enclosed with the corporation’s income tax return along with
supporting schedules which document the applicable exception
(included in Va. Code § 58.1‑504 (D)).

Need Help?
•	

Visit our website for more information: www.tax.virginia.gov.

•	

Call us at (804) 367-8037.

•	

Write to P.O. Box 1115, Richmond, VA 23218-1115 (Do not
send returns or payments to this address).

Declaration and Payment Schedule
The date the declaration is to be filed and the number and amount of installments to be paid is determined in accordance with the following table.
If the requirements are first met—

The declaration must be
filed on or before—

before the 1st day of the 4th month of the
taxable year

the 15th day of the 4th
month of the taxable year

4

after the last day of the 3rd month and before the the 15th day of the 6th
1st day of the 6th month of the taxable year
month of the taxable year

3

the 15th day of the 9th
month of the taxable year

2

after the last day of the 8th month and before
the 15th day of the 12th
the 1st day of the 12th month of the taxable year month of the taxable year

1

after the last day of the 5th month and before
the 1st day of the 9th month of the taxable year

Va. Dept. of Taxation  2601010-W  Rev. 08/23

The number of
installments to
be paid is—

The following percentages of the estimated tax
must be paid on or before the 15th day of the—
4th month

6th month

9th month

12th month

25%

25%

25%

25%

33 1/3%

33 1/3%

33 1/3%

50%

50%
100%

HOW TO USE FORM 500ES
1.

Complete the Estimated Tax Worksheet below to compute your estimated tax for 2024.
Estimated Tax Worksheet
(This is your record –­retain for your files.)

2.
3.
4.
5.

1. Virginia net income expected in 2024..........................................................................................................1. $
2. Estimated tax for the entire year (6% of Line 1, less allowable credits). If $1,000 or less, no declaration
is required. Enter this amount on Line 1 of the voucher...............................................................................2. $

.00
.00

3. For CALENDAR YEAR taxpayers – if first filing is on or before:
• April	15,	 2024 – enter 1/4 of Line 2 here.
• June	15,	 2024 – enter 1/3 of Line 2 here.
• Sept.	15,	 2024 – enter 1/2 of Line 2 here.
• Dec.	 15,	 2024 – enter amount on Line 2 here.
For FISCAL YEAR taxpayers – see Declaration and Payment Schedule on preceding page and
enter amount here........................................................................................................................................3. $

.00

4. Amount of any 2023 OVERPAYMENT to be credited to 2024 tax................................................................4. $

.00

5. Amount of this estimated tax payment (Line 3 less Line 4)..........................................................................5. $

.00

Enter the estimated payment amount from Line 5 (above), on Line 2 of the first voucher.
The amount of SUBSEQUENT installment payments due (to be shown on Line 2 of the appropriate voucher) will be the amount
shown on Line 3 (above).
If there is an overpayment from Line 4 (above) which is larger than the first installment payment on Line 3 (above), enter 0 on Line 2 of
the first voucher filed (NO PAYMENT IS DUE). If an overpayment is not deducted from the 1st installment payment then this amount
can be applied toward the next installment payment due. The difference is entered on Line 2 of the appropriate voucher.
You may elect to apply part of the OVERPAYMENT shown on Line 4 (above) against an installment due. Divide the OVERPAYMENT
by the number of installments due and deduct this amount from Line 3 (above). The difference is entered on Line 2 of the appropriate
voucher.

HOW TO COMPLETE THE FORM 500ES VOUCHERS
1.
2.
3.
4.
5.
6.
7.

Enter your Virginia account number, the ending month and year for the entire taxable year (calendar, fiscal, or short taxable year) for
which the estimated payment is made (not the ending date for the quarter the estimated payment is made). EXAMPLE: If the ending
month for the taxable year of the corporation is March 2024, enter 03 24.
Enter the name, federal employer identification number, address, city, state, and ZIP Code on each voucher.
Enter on Line 1 of the voucher the amount shown on Line 2 of the worksheet.
Enter on Line 2 of the voucher the amount of your payment.
Sign the first voucher you file and detach. You need not sign SUBSEQUENT vouchers UNLESS you are amending your estimate.
Enclose check or money order to the voucher and mail to the Virginia Department of Taxation, P.O. Box 1500, Richmond, VA
23218‑1500. PRINT YOUR VIRGINIA ACCOUNT NUMBER ON YOUR CHECK OR MONEY ORDER. Fill in the Estimated Tax Payment
Record (below) for your own personal tax record.
For each SUBSEQUENT installment, enter your payment on Line 2 of the voucher, enclose your check or money order, and mail it.

HOW TO AMEND FORM 500ES
If it is necessary to amend Form 500ES, follow these steps:
1. Fill out the Amended Computation Schedule below.
2. Enter the revised amounts of estimated tax and payment on the NEXT voucher due.
3. Sign the voucher, detach, and mail with required payment on or before required due date.
4. For each subsequent installment, enter your payment on Line 2 of the voucher, enclose your check or money order, and mail it.
Amended Computation Schedule
(Use if estimated tax is changed after declaration has been filed.)
1. Amended estimated tax. (Enter here and on Line 1 of the next voucher due.)............................................1. $

.00

2. Less any payments made or credits applied against 2024 declaration........................................................2. $

.00

3. Unpaid balance (Line 1 less Line 2).............................................................................................................3. $

.00

4. Amount to be paid (Line 3 divided by number of remaining installments). Enter here
and on Line 2 of the next voucher due.........................................................................................................4. $

.00

2024 ESTIMATED TAX PAYMENT RECORD
Date
PAYMENT MADE
WITH DECLARATION

Check or
Money Order No.

Amount

Overpayment Credit Applied

Total Amount Paid

$

$

$

2ND PAYMENT

$

$

$

3RD PAYMENT

$

$

$

4TH PAYMENT

$

$

$

TOTALS

$

$

$

Payments must be submitted electronically using eForms, Business Online Services,
or with an ACH Credit from your bank. Use these vouchers only if you have an
approved waiver from the electronic payment requirement. To request a waiver, follow
the instructions at www.tax.virginia.gov.

Form 500ES

Virginia Estimated Tax Declaration For Corporations
Virginia Department of Taxation
P.O. Box 1500, Richmond, VA 23218-1500
(804) 367-8037

(DOC ID 501)

Attention: Payment must be made electronically
using eForms, Business Online Services, or with an
ACH credit from your bank. Use this voucher only if
you have an approved waiver.

0000000000000000 5018888 000000 02
VA Account Number

35-

VOUCHER 2

For mo./yr. ending

Name of Corporation

FEIN

Address (Number and Street)

1. Estimated tax for the year....$

.00

2. Amount of this payment......$

.00

Address (Continued)
City, State, and ZIP Code

I declare that this declaration has been examined by me and to the best of my knowledge and belief, it is true, correct, and complete.
Signature

Date

Form 500ES

0000000000000000 5018888
VA Account Number

Phone Number

Virginia Estimated Tax Declaration For Corporations

(DOC ID 501)

For mo./yr. ending
FEIN

Address (Number and Street)
Address (Continued)

1. Estimated tax for the year....$

.00

2. Amount of this payment......$

.00

City, State, and ZIP Code

­—Do not write below this line.—

I declare that this declaration has been examined by me and to the best of my knowledge and belief, it is true, correct, and complete.
Signature

VOUCHER 1

Virginia Department of Taxation
P.O. Box 1500, Richmond, VA 23218-1500
(804) 367-8037
Attention: Payment must be made electronically
using eForms, Business Online Services, or with an
ACH credit from your bank. Use this voucher only if
you have an approved waiver.
000000 01

35-

Name of Corporation

­—Do not write below this line.—

Date

Phone Number

Payments must be submitted electronically using eForms, Business Online Services,
or with an ACH Credit from your bank. Use these vouchers only if you have an
approved waiver from the electronic payment requirement. To request a waiver, follow
the instructions at www.tax.virginia.gov.

Form 500ES

Virginia Estimated Tax Declaration For Corporations

VOUCHER 4

Virginia Department of Taxation
P.O. Box 1500, Richmond, VA 23218-1500
(804) 367-8037
Attention: Payment must be made electronically
using eForms, Business Online Services, or with an
ACH credit from your bank. Use this voucher only if
you have an approved waiver.

(DOC ID 501)

0000000000000000 5018888 000000 04
VA Account Number

35-

Name of Corporation

For mo./yr. ending
FEIN

Address (Number and Street)
Address (Continued)
City, State, and ZIP Code

1.	 Estimated tax for the year....$

.00

2.	 Amount of this payment......$

.00
­—Do not write below this line.—

I declare that this declaration has been examined by me and to the best of my knowledge and belief, it is true, correct, and complete.
Signature

Date

Form 500ES

Phone Number

Virginia Estimated Tax Declaration For Corporations
Virginia Department of Taxation
P.O. Box 1500, Richmond, VA 23218-1500
(804) 367-8037

(DOC ID 501)

Attention: Payment must be made electronically
using eForms, Business Online Services, or with an
ACH credit from your bank. Use this voucher only if
you have an approved waiver.

0000000000000000 5018888 000000 03
VA Account Number

35-

Name of Corporation

For mo./yr. ending
FEIN

Address (Number and Street)

1.	 Estimated tax for the year....$

.00

2.	 Amount of this payment......$

.00

Address (Continued)
City, State, and ZIP Code

­—Do not write below this line.—

I declare that this declaration has been examined by me and to the best of my knowledge and belief, it is true, correct, and complete.
Signature

VOUCHER 3

Date

Phone Number