Tax Type
Corporation Income Tax
Description
IRS exemption from federal income tax
Topic
Exemptions
Date Issued
04-04-1988
April 4, 1988
Re: Corporation Income Tax
Dear*********************
This is in response to your letter of September 1, 1987, in which you informed us that you had applied to the I.R.S. for exemption from federal income tax.
According to our records, last December you furnished us a copy of the letter from the I.R.S. stating that you are exempt from federal income tax. Therefore, you are no longer liable for Virginia corporation income tax or required to file a Virginia return except to the extent that you have unrelated business taxable income under federal law.
Sincerely,
W. H. Forst
Tax Commissioner
Rulings of the Tax Commissioner