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Virginia 500T - Telecommunications Companies Minimum Tax and Credit Schedule
Extracted from PDF file 2023-virginia-form-500t.pdf, last modified September 2023500T - Telecommunications Companies Minimum Tax and Credit Schedule
2023 Virginia Form 500T Telecommunications Companies Minimum Tax Name as shown on the Virginia return *VA500T123888* FEIN Calendar year of earned receipts Part I – Adjusted Corporate Income Tax Computation 1. Corporate income tax liability. Enter the amount from Form 500, Line 9 . . . . . . . . . . . . . . . 1. .00 2. Tax credits. (A) Neighborhood Assistance Act Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (A) .00 (B) Enterprise Zone Act Tax Credit (Carryover credits only. See Schedule 500CR Instructions.). . . (B) .00 (C) Conservation Tillage Equipment Tax Credit (carryover credits only). . . . . . . . . . . . . . . . . . (C) .00 (D) Biodiesel and Green Diesel Fuels Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (D) .00 (E) Precision Fertilizer and Pesticide Application Equipment Tax Credit (carryover credits only). . (E) .00 (F) Recyclable Materials Processing Equipment Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . (F) .00 (G) Reserved for future use. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (G) (H) Vehicle Emissions Testing Equipment Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (H) .00 ( I ) Major Business Facility Job Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (I) .00 (J) Reserved for future use. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (J) (K) Historic Rehabilitation Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (K) (L) Reserved for Future Use. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (L) (M) Waste Motor Oil Burning Equipment Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (M) .00 (N) Riparian Waterway Buffer Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (N) .00 (O) Land Preservation Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (O) .00 (P) Virginia Coal Employment and Production Incentive Tax Credit (carryover credits only). . . (P) .00 (Q) Community of Opportunity Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (Q) .00 (R) Green and Alternative Energy Job Creation Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . (R) .00 .00 (S) Farm Wineries and Vineyards Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (S) .00 (T) International Trade Facility Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (T) .00 (U) Port Volume Increase Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (U) .00 (V) Barge and Rail Usage Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (V) .00 (W) Livable Home Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (W) .00 (X) Nonrefundable Research and Development Expenses Tax Credit. . . . . . . . . . . . . . . . . . . (X) .00 (Y) Education Improvement Scholarships Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (Y) .00 (Z) Major Research and Development Expenses Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . (Z) .00 (AA) Food Donation Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (AA) .00 (BB) Worker Training Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (BB) .00 (CC) Virginia Housing Opportunity Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (DD) 100% Coalfield Employment Enhancement Tax Credit from 2023 Form 306D, Part II, Section 1, Line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (CC) .00 (DD) .00 a. Full credit: Enter the amount from 2023 Form 306D, Part II, Section 2, Line 3. . . . . . . a. .00 b. 85% credit: Enter the amount from 2023 Form 306D, Part II, Section 3, Line 5. . . . . . . c. Total Coalfield Employment Enhancement Tax Credit allowable this year. Add Lines (DD)a and (DD)b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. .00 c. .00 (EE) Motion Picture Production Tax Credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (EE) .00 (FF) Refundable Research and Development Expenses Tax Credit. . . . . . . . . . . . . . . . . . . . . . (FF) .00 (GG) Agricultural Best Management Practices Tax Credits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . (GG) .00 (HH) Conservation Tillage and Precision Agriculture Equipment Tax Credit. . . . . . . . . . . . . . . . (HH) .00 Va. Dept. of Taxation 2601012-W Rev. 08/23 2023 Virginia Form 500T Page 2 Telecommunications Companies Minimum Tax *VA500T223888* Name as shown on the Virginia return FEIN 2. Total tax credits. Add Lines (A) through (F), (H), (I), (K), (M) through (CC), (DD)c, and (EE) through (HH). . . . . . . 2. .00 3. Adjusted corporate income tax. Subtract Line 2 from Line 1. . . . . . . . . . . . . . . . . . . . . . . . . . 3. .00 4. Gross receipts for the taxable period as certified by the State Corporation Commission. . . . 4. .00 5. Minimum tax. Multiply Line 4 by 0.5%. If filing a consolidated or combined return, complete the schedule below, providing a breakdown of the minimum tax for each corporation.. . . . . . . . . . . . . . . . . 5. .00 6. Adjusted corporate income tax. Enter the amount from Part I, Line 3 above. . . . . . . . . . . . 6. .00 7. Telecommunications tax. Greater of Line 5 or Line 6. Enter on Form 500, Page 1 in the Telecommunications Company section and on Form 500, Line 11. See the instructions concerning the tax amount . . . . . . . . 7. .00 8. Minimum tax. Enter the amount from Part II, Line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. .00 9. Adjusted corporate income tax. Enter the amount from Part I, Line 3. . . . . . . . . . . . . . . . . . 9. .00 10. .00 Part II – Minimum Tax Computation Part III – Noncorporate Telecommunications Companies 10. Amount you owe. If Line 8 is greater than Line 9, subtract Line 9 from Line 8. If Line 9 is greater than Line 8, enter 0.00. Enter on Form 500, Page 1 in the Noncorporate Telecommunications Company section and on Form 500, Line 11. . . . . . . . . . . . . . . . . . . . . . Schedule of Minimum Tax for Consolidated or Combined Filers FEIN 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Name Minimum Tax .00 .00 .00 .00 .00 .00 .00 .00 .00 .00
2023 Form 500T - Virginia Telecommunications Companies Minimum Tax
More about the Virginia Form 500T Corporate Income Tax Tax Credit TY 2023
We last updated the 500T - Telecommunications Companies Minimum Tax and Credit Schedule in January 2024, so this is the latest version of Form 500T, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 500T directly from TaxFormFinder. You can print other Virginia tax forms here.
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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 500T from the Department of Taxation in January 2024.
Form 500T is a Virginia Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
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 500T
We have a total of thirteen past-year versions of Form 500T in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form 500T
2023 Form 500T - Virginia Telecommunications Companies Minimum Tax
2022 Form 500T
2022 Form 500T - Virginia Telecommunications Companies Minimum Tax
2021 Form 500T
2021 Form 500T - Virginia Telecommunications Companies Minimum Tax
2020 Form 500T
2020 Form 500T - Virginia Telecommunications Companies Minimum Tax
2019 Form 500T
2019 Form 500T - Virginia Telecommunications Companies Minimum Tax
2018 Form 500T
2018 Form 500T - Virginia Telecommunications Companies Minimum Tax
2017 Form 500T
2017 Form 500T - Virginia Telecommunications Companies Minimum Tax
2016 Form 500T
2016 Form 500T - Telecommunications Companies Minimum Tax
2015 Form 500T
500T 15 draft ER Web 06 10 15.indd
2014 Form 500T
500T 14 ER Web 09 05 14.indd
2013 Form 500T
500T 13 Final Web 10 21 13.indd
2012 Form 500T
500T 12 final 08 02 12.indd
2011 Form 500T
500T 11 WEB early release 12 12 11.indd
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