500: Virginia Corporation Income Tax Return (2025)
Virginia · Virginia Tax · Used for tax years 2025
Form 500 is Virginia’s 2025 Corporation Income Tax Return. It reports federal taxable income, Virginia income adjustments, tax, payments and credits, and any refund or balance due.
What you'll need
- A copy of your federal return. The form says to include it with your Virginia return.
- Corporation information: FEIN, mailing and physical addresses, entity type code, NAICS code, incorporation details, and business activity description.
- Payment information: 2025 estimated Virginia income tax payments, any overpayment credit from 2024, and any extension payment.
- Schedules that apply to your return: Schedule 500ADJ for adjustments or pass-through entity withholding, Schedule 500A for apportionment, and Schedule 500CR for tax credits. Combined or consolidated filers must enclose Schedule 500AC.
- Schedule 500AB, if applicable: Complete and enclose it if you made the related-party payments for interest, royalties, or other intangible-property expenses described in Question A.
- Net operating loss information, if applicable: If you claimed a federal NOL deduction, provide the loss year, federal NOL, and percentage used this year. For losses from more than one year, enclose a schedule for each year with the information requested in Section C.
- Pass-through withholding information, if applicable: Enter the number of Schedules VK-1 and complete and enclose Schedule 500ADJ, Page 2.
- Form 500C, if applicable: Enclose it when reporting an additional charge from that form.
How to file
File electronically. The form states that the return must be filed electronically. Use the paper form only if you have an approved waiver.
For paper filing with an approved waiver, the form lists this address:
Virginia Department of Taxation
P.O. Box 1500
Richmond, VA 23218-1500
Complete the corporation information, applicable questions, income and tax calculations, and payment or refund lines. Include a copy of your federal return and applicable schedules.
An authorized corporate officer must sign and date the return and provide their title, printed name, and phone number. The form also provides a section for the preparer's information and signature.
Common mistakes
- Using the paper form without an approved waiver. The form says the return must be filed electronically unless you have an approved waiver.
- Using Form 500 to carry back a net operating loss. The form specifically says to use Form 500NOLD instead.
- Leaving out the federal return. The form prominently reminds filers to include a copy.
Questions people ask
Can I use Form 500 to carry back a net operating loss?
No. The form says to use Form 500NOLD for a net operating loss carryback.
Can I apply an overpayment to next year's estimated tax?
Yes. Line 23 lets you enter the amount to credit to 2026 estimated tax. Line 24 calculates the refund by subtracting that credit from the overpayment on Line 22.
What if my federal NOL deduction includes losses from several years?
Enclose a schedule for each year with the information requested in Section C. If an NOL resulted from a merger, enter the FEIN of the company that generated the loss before the merger date.
Can I authorize the Department to discuss the return with my preparer?
Yes. Check the authorization box at the end of the form to allow the Department to discuss the return with the preparer who signed it.