Instructions for Schedule 500A Corporation Allocation and Apportionment of Income - Virginia

This document contains official instructions for Schedule 500A , Corporation Allocation and Apportionment of Income - a form released and collected by the Virginia Department of Taxation.

FAQ

Q: What is Schedule 500A?
A: Schedule 500A is a form used by corporations in Virginia to allocate and apportion their income.

Q: Why do corporations in Virginia need to use Schedule 500A?
A: Corporations in Virginia use Schedule 500A to determine how their income should be allocated and apportioned within the state.

Q: What is the purpose of allocating and apportioning income?
A: Allocating and apportioning income helps determine the portion of a corporation's income that is taxable in Virginia.

Q: Who is required to fill out Schedule 500A?
A: Corporations that have income derived from or attributable to Virginia are required to fill out Schedule 500A.

Q: Are there any instructions or guidelines for filling out Schedule 500A?
A: Yes, the Virginia Department of Taxation provides instructions and guidelines for filling out Schedule 500A.

Q: When is the deadline for filing Schedule 500A?
A: The deadline for filing Schedule 500A is the same as the deadline for filing the Virginia corporate income tax return, which is generally the 15th day of the fourth month following the close of the tax year.

Q: What if a corporation does not file Schedule 500A?
A: If a corporation that is required to file Schedule 500A fails to do so, it may be subject to penalties and interest.

Q: Can Schedule 500A be filed electronically?
A: Yes, corporations can file Schedule 500A electronically through the Virginia Department of Taxation's e-File system.

Q: Is Schedule 500A required for all corporations in Virginia?
A: No, Schedule 500A is only required for corporations that have income derived from or attributable to Virginia.