Tax Type
Corporation Income Tax
Description
Permission to file consolidated return
Topic
Returns/Payments/Records
Date Issued
02-26-1986
February 26, 1986
Re: Virginia Code Section 58.1-442
Permission to File a Consolidated Return
Dear ****************
This will reply to your letter of December 2, 1985 requesting permission for the above-referenced taxpayers to file a consolidated Virginia income tax return for the taxable year ended June 30, 1985.
You have indicated that Parent acquired 80% of Subsidiary in July 1984. Because of the acquisition Subsidiary now shares the June 30 fiscal year end of Parent. Parent and Subsidiary have been filing separate Virginia returns and are 100% Virginia corporations. You also indicate that Parent and Subsidiary represent all the members of the affiliated group which are subject to Virginia income tax.
Based on the foregoing representations, permission is hereby granted for Parent and Subsidiary to file a consolidated return for the taxable year ended June 30, 1985 and thereafter. The consolidated return should be filed using the name and identification number of Parent and is to be filed in accordance with the requirements set forth in Virginia Corporation Income Tax Regulations §630-3-442 (copy enclosed).
Sincerely,
W. H. Forst
Tax Commissioner
Rulings of the Tax Commissioner