2017 Session

Budget Amendments - HB1500 (Conference Report)

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Requirement for Estimated Tax Payments Using Electronic Medium (language only)

Item 275 #1c

Item 275 #1c

Department of Taxation


Page 248, after line 50, insert:

"f. Taxpayers subject to the taxes imposed pursuant to § 58.1-320 and required to make estimated tax payments pursuant to § 58.1-490 et seq., shall be required to file and remit payment using an electronic medium in a format prescribed by the Tax Commissioner if (i) any installment payment of estimated tax is in excess of fifteen thousand dollars, (ii) any payment made with regard to an extension of time to file exceeds fifteen thousand dollars, or (iii) the taxpayer's total tax liability exceeds sixty thousand dollars in any taxable year beginning on or after January 1, 2017. The Department of Taxation shall provide reasonable advanced notice to taxpayers affected by this requirement."


(This amendment requires certain taxpayers to file and remit tax payments using an electronic medium.)