Tax Type
Corporation Income Tax
Description
Permission to file a combined return
Topic
Returns/Payments/Records
Date Issued
07-18-1984
July 18, 1984
Re: § 58-151.079 - Permission to File a Combined Return
Dear ****
The parent has applied for permission to file a combined return including itself and its subsidiary for 1981 and subsequent years. The corporations have been required to file separate returns for 1980 and prior years.
Permission is hereby granted to file a combined return for 1981 and subsequent years. The combined return shall include the affiliated corporations noted above which are subject to taxation in Virginia and shall be prepared in accordance with the following conditions:
1. Schedules shall be filed with the combined return which contain all information which would be contained in a separate Virginia return for each and every eligible member of the affiliated group. See §§ 58-151.079 and 58-151.081.
2. In computing the Virginia Taxable Income of each eligible member of the affiliated group there shall be added to federal taxable income the amount of any net operating loss deduction or other deduction which has been recognized for Virginia income tax purposes and offset other income in a Virginia consolidated or combined return for other taxable years. See, for example, Federal income Tax Regulation 1.1502-79.
Sincerely,
W. H. Forst
State Tax Commissioner
Re: § 58-151.079 - Permission to File a Combined Return
Dear ****
The parent has applied for permission to file a combined return including itself and its subsidiary for 1981 and subsequent years. The corporations have been required to file separate returns for 1980 and prior years.
Permission is hereby granted to file a combined return for 1981 and subsequent years. The combined return shall include the affiliated corporations noted above which are subject to taxation in Virginia and shall be prepared in accordance with the following conditions:
1. Schedules shall be filed with the combined return which contain all information which would be contained in a separate Virginia return for each and every eligible member of the affiliated group. See §§ 58-151.079 and 58-151.081.
2. In computing the Virginia Taxable Income of each eligible member of the affiliated group there shall be added to federal taxable income the amount of any net operating loss deduction or other deduction which has been recognized for Virginia income tax purposes and offset other income in a Virginia consolidated or combined return for other taxable years. See, for example, Federal income Tax Regulation 1.1502-79.
Sincerely,
W. H. Forst
State Tax Commissioner
Rulings of the Tax Commissioner