Form 500-Ec - Modified Net Income Tax Return For Electric Cooperatives 2006
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42006 VIRGINIA
Modified Net Income Tax
*VAECOP106888*
FORM 500-EC
Return For Electric Cooperatives
Department of Taxation
P.O. Box 1500
Richmond, VA 23218-1500
Note: If a cooperative does not have nonmember sales of electricity within the Commonwealth
for a taxable year, the cooperative is not required to file a return for that taxable year.
FISCAL year filer or SHORT year filer: ENTER beginning date
,
and ending date,
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and CHECK HERE j
Check if —
Business Name
Official use only
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A Change in Address
Number and street
Federal Employer
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B Amended Return
Identification Number
City or town, state and ZIP Code
C Final Return
Date Incorporated
State or Country of incorporation
Virginia Corporation Account Number
(No longer liable for tax)
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If your tax return is filed on computer generated forms or forms supplied by a tax preparer, place an “X” in the box to the right.
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1.
Total Revenue From Electricity Sales in Virginia .............. ...................................................................... 1.
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2.
Total Revenue From Electricity Sales to Members in Virginia .................................................................. 2.
3.
Revenue From Electricity Sales to Nonmembers in Virginia (Subtract line 2 from line 1) ....................... 3.
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4.
Nonmember Share of Ordinary and Necessary Expenses (From Page 2, line 22 or line 25) ................. 4.
5.
Modified Net Income (Subtract line 4 from line 3) .................................................................................... 5.
6.
Tax (6% of line 5) ..................................................................................................................................... 6.
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7.
Tax Credits (Enter the sum of Lines 100 and 108 from Form 500 CR - see instructions) ........................ 7.
8.
Modified Net Income Tax (Line 6 less Line 7). Also, enter on Line 5 of Schedule 500-MT ...................... 8.
8a. Tax Amount (Enter the amount from line 12, Schedule 500-MT ) ...........................................................8a.
9. Payments: (a) 2006 estimated Virginia tax payments ........................................................................9(a)
(b) Extension payment and other payments ....................................................................9(b)
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Total payments/credits [add lines 9a and 9b] ....................................................................................9.
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10. Tax due (Subtract line 9 from line 8a) ......................................................................................................10.
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11. Penalty (See instructions) ......................................................................................................................11.
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12.
Interest (See instructions)........................................................................................................................12.
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13. Additional charge (Attach Form 500 C ) .................................................................................................. 13.
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14. Total due (Add lines 10 through 13). Attach form 500 V with payment or if paid by EFT, check this box
... 14.
15. Overpayment (If line 9 is larger than line 8a, subtract line 8a from 9 and enter overpayment ) .............. 15.
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16. Amount of line 15 to be credited to 2007 estimated tax .......................................................................... 16.
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17. Amount of to be refunded (Subtract line 16 from line 15) ....................................................................... 17.
VA DEPT OF TAXATION
2601092-06 (REV 11/06)
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