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23 VAC Title 23 Agency 10 — Virginia Tax Regulations

23VAC10-120-88

Telecommunications companies; estimated taxes

Official textlaw.lis.virginia.gov

# A.

Generally. The requirements imposed under § 58.1-500 (et seq.) of the Code of Virginia regarding the filing of a declaration of estimated income taxes and the payment of estimated income taxes, shall be applicable to telecommunications companies regardless of whether such company expects to be subject to the minimum tax or to the corporate income tax.

# B.

Exceptions to the addition to tax.

# 1.

For purposes of determining the applicability of the exceptions under which the addition to tax for the underpayment of any installment of estimated taxes will not be imposed, it is irrelevant whether the tax shown on the return for the preceding taxable year is corporate income tax, minimum tax or a license tax on gross receipts.

# 2.

The addition to tax for the failure to pay estimated income tax (§ 58.1-504) will not be imposed on the tax liability resulting from the transitional short taxable year return required to be filed for the period that begins after December 31, 1988, and ends before the first day of a telecommunications company's 1989 taxable year.

Last amended: Historical Notes Derived from VR630-3-400.1 § 9, eff. January 3, 1990.

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Nearby sections (25 sections)
  1. 10-120-30 · (Repealed.)
  2. 10-120-40 · Limitations on assessments
  3. 10-120-50 · (Repealed.)
  4. 10-120-70 · (Repealed.)
  5. 10-120-80 · Telecommunications companies; definitions
  6. 10-120-81 · Telecommunications companies; tax administration
  7. 10-120-82 · Telecommunications companies; imposition of tax
  8. 10-120-83 · Minimum tax on telecommunications companies
  9. 10-120-84 · Telecommunications companies; corporation income tax
  10. 10-120-85 · (Repealed.)
  11. 10-120-86 · Telecommunications companies; separate, combined or…
  12. 10-120-87 · (Repealed.)
  13. 10-120-88 · Telecommunications companies; estimated taxes
  14. 10-120-89 · Noncorporate telecommunications companies
  15. 10-120-89.1 · Telecommunications companies; administrative appeals
  16. 10-120-90 · Exemptions and exclusions
  17. 10-120-100 · Virginia taxable income; definitions; exceptions
  18. 10-120-101 · Virginia taxable income; additions
  19. 10-120-102 · Virginia taxable income; subtractions
  20. 10-120-103 · Subtraction for income attributable to an investment in a…
  21. 10-120-110 · Additional modifications
  22. 10-120-120 · Business entirely within Virginia
  23. 10-120-130 · Allocation and apportionment
  24. 10-120-140 · How dividends allocated
  25. 10-120-150 · What income apportioned and how
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