Tax Type
Corporation Income Tax
Description
Permission to file a consolidated return
Topic
Returns/Payments/Records
Date Issued
04-07-1988
April 7, 1988
Re: Virginia Code § 58.1-442
Permission to File a Consolidated Return
Dear********************
This is in reply to your letter of January 25, 1988, requesting permission for the above referenced taxpayers to file a consolidated return.
Facts
On June 1, 1986, the parent acquired all of the capital stock of two former "S" corporations. Consolidation for federal purposes occurred at that point with an automatic change in tax year to December 31, 1986, to conform to that of the parent corporation.
Determination
Since this is the first year in which two or more affiliates of this group are required to file Virginia corporate income tax returns, permission to file a consolidated return is granted for the calendar year ended December 31, 1986, and subsequent years.
Sincerely,
W. H. Forst
Tax Commissioner
Rulings of the Tax Commissioner