Tax Type
Corporation Income Tax
Description
Permission to file a combined return
Topic
Returns/Payments/Records
Date Issued
10-31-1984
October 31, 1984
Re: Virginia Code § 58-151.079
Permission to File Combined Return
Dear ****
This is in reference to your letter of September 25, 1984 requesting permission for the subsidiary corporations of ***** (Parent) to file a combined Virginia income tax return. The subsidiary corporations are eligible affiliates of the Parent, subject to Virginia income tax. They utilize the same taxable year and separate returns have been filed in prior years.
Permission is hereby granted for the Virginia affiliates as defined by Virginia Code § 58-151.081, to file a combined return under the name and identification number of the Designated Lead Affiliate. A combined return is to be filed for the taxable year ending December 31, 1983 and thereafter which includes the affiliates subject to Virginia income tax upon 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 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