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1. Do I have to file a return? Answer - Complete Form 760, lines 1 through 9, to determine your Virginia adjusted gross income (VAGI). You must file if you are: Single and your VAGI is $5000 or more Married filing jointly and combined VAGI is $8000 or more Married filing separately and your VAGI is $4000 2. I worked at Virginia Tech this past year and made $12,900. I earned $45,000 from Celanese. Am I eligible for the Federal and State Employees Credit? Answer - Yes, you do qualify for this credit. Being that you worked for a state or federal agency and your total income from this agency was less than $15,000, you qualify for the credit. The Celanese income does not figure in with this amount being that it is not a state or federal agency. If your spouse worked for a state or federal agency, they can also take the credit if their total income from this agency was less than $15,000. Husbands and wives are treated separately on this matter. (Note- if you worked for more than one state or federal agency, you must combine your income from all agencies. The total amount can't be more than $15,000.) If you qualify for this credit, enter the code 39 on line 6 of the Form 760-ADJ. This amount is also entered on line 7 of Form 760, where it is subtracted from the amount on line 3. 3. I live in West Virginia, but work in Virginia and drive back and forth to work everyday. My employer took out Virginia withholdings. Which state form do I file to get back my Virginia withholdings? Answer - You would file a 763-S form in order to get back your Virginia withholdings. You need to attach all W-2's showing Virginia withholdings and a copy of your West Virginia return. 4. Is there an easier way to figure the Spouse Tax Credit? Answer - Yes, there is. Just go online at www.tax.state.va.us . This pulls up the Department of Taxation website.
5. For Balance Due returns and Estimated Payments, to whom do I make the check out to? Answer - Checks should be made out to the Department of Taxation or to the Treasurer of Giles County. 6. Is Unemployment Compensation income taxable on my state tax return? Answer - No, your Unemployment Compensation income is not taxable on your state tax return, however, you must include this amount on line 1 with your Federal Adjusted Gross Income. You can deduct all of this income by entering the code 37 and the amount of Unemployment Compensation income on line 6 of the Form 760-ADJ. This amount is also entered on line 7 of Form 760, where it is subtracted from the amount on line 3. 7. What is the due date for filing your state tax return? Answer - The due date for filing your Virginia state tax return is May 1st. 8. What are the due dates for filing your state estimated payments? Answer - If you make estimated payments through out the year the due dates for each of the payments are as follows: 1st Payment - May 1st 2nd Payment - June 15th 3rd Payment - September 15th 4th Payment - January 1st of the following year |
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