Tax Type
Corporation Income Tax
Description
Short tax years; Required to file same tax years as used for Federal returns
Topic
Accounting Periods and Methods
Returns/Payments/Records
Date Issued
08-22-1986
August 22, 1986
Re: Ruling Request: Corporate
Dear ******************
This will reply to your letter of June 25, 1986 requesting permission for Taxpayer to file a single tax return for 1986 which combines the separate taxable incomes of the short periods January 1 through June 9, 1986 and June 10 through December 31, 1986.
You indicate that the short periods are required for federal tax purposes and arise because ************* Company purchased Taxpayer on June 9, 1986.
§58.1-440 of the Code of Virginia requires that Virginia returns be filed on the same taxable years as federal returns. There is no Virginia statutory provision which would allow me to allow Taxpayer to file otherwise. Accordingly, your request to file a single tax return for Taxpayer for 1986 is denied.
Sincerely,
W. H. Forst
Tax Commissioner
Rulings of the Tax Commissioner