Bulletin Number
VTB 82-1
Tax Type
General Provisions
Description
Individual Income Tax:1981 Legislative Changes
Topic
Penalties and Interest
Date Issued
01-25-1982
Virginia Tax Bulletin
DATE: January 1, 1982
SUBJECT: Individual Income Tax:1981 Legislative Changes
The 1981 General Assembly passed several laws which affect individual income tax. The purpose of this bulletin is to announce these changes which are effective for taxable years beginning in 1981.
NONGAME WILDLIFE CONTRIBUTIONS:
Individuals may contribute a part or all of their refunds to the Commission of Game and Inland Fisheries to help conserve and protect Virginia's nongame wildlife and endangered and threatened species.
The contribution (tax deductible next year) will automatically be deducted from the claimed or adjusted refund. The Department of Taxation will furnish each individual with verification of the amount of the contribution. which must be in whole dollar amounts unless the total refund is contributed.
Anyone wishing to contribute cash must send a check directly to the Commission of Game and Inland Fisheries, P.O. Box 11104, Richmond, VA 23230-1104 [ATTN: Nongame Program] (Senate Bill No. 551)
FEDERAL WORK INCENTIVE PROGRAM (WIN Tax Credit):
The amount of wages or salaries eligible for the federal work incentive program (WIN Tax Credit) not deducted (as an expense item) for federal income tax purposes is an allowable subtraction from federal adjusted gross income. (Senate Bill No. 641)
LUMP-SUM DISTRIBUTIONS:
To the extent excluded from federal adjusted gross income there must be added forty percent of the capital gain part and all of the ordinary income part of a lump sum distribution from a qualified retirement plan, less the minimum distribution allowance and any amount excludable for federal income tax purposes.
Individuals who claim the standard deduction and add back a lump-sum distribution (line 23, Forms 760 and 760PY, or line 24, Form 763) may compute the allowable standard deduction on the total of federal adjusted gross income (line 5) and the amount of the add back. (House Bill No. 1572)
LITTER TAX:
Beginning with calendar year 1981, litter control tax will be reported on a separate return, Form 200, Virginia Litter Control Tax Return.
This return has been included in the individual, partnership and corporation income tax packets and must be filled for each calendar year by May 1 of the following year even though a taxpayer's taxable year for income tax purposes is not on a calendar year basis. Form 200 must be filed directly with the Department of Taxation. Litter tax payments made after the due date will be subject to a penalty in the amount of 100% of the tax plus interest at the applicable rate.
Effective with calendar year 1981, the new litter rates are as follows:
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- 1) $10.00 on every business operating as a manufacturer, wholesaler, distributor or retailer of products whose packages, wrappings and containers constitute litter. The $10.00 tax applies to each business location from which such a business is conducted.
2) An additional $15.00 on every business operating as a manufacturer, wholesaler, distributor or retailer of groceries, soft drinks, carbonated water, beer and other malt beverages. The additional $15.00 tax applies to each business location from which a business is conducted. (House Fill No. 1147)
- 1) $10.00 on every business operating as a manufacturer, wholesaler, distributor or retailer of products whose packages, wrappings and containers constitute litter. The $10.00 tax applies to each business location from which such a business is conducted.
If there are any questions about these changes call (804) 257-8031 or write the Virginia Department of Taxation, P.O. Box 6-L, Richmond, VA 23282.
Tax Bulletins