When are Virginia business tax returns due?
Virginia business tax deadlines mirror federal deadlines for most entity types. The specific due date depends on how your business is structured.
Sole proprietors and single-member LLCs report business income on Schedule C as part of your personal tax return. That’s due April 15. Virginia individual income tax returns are also due April 15, so you’re filing federal and state on the same timeline.
Partnerships and multi-member LLCs taxed as partnerships file earlier. Federal Form 1065 and Virginia Form 502 are both due March 15. This earlier deadline exists because partnerships pass income through to partners, who then need K-1 information to complete their own returns by April 15.
S-Corporations follow the same schedule. Federal Form 1120-S and Virginia Form 502 are due March 15. Working with small business bookkeepers throughout the year means your numbers are ready when your accountant needs them, instead of scrambling in February to pull everything together.
C-Corporations file separately from their owners. Federal Form 1120 and Virginia Form 500 are due April 15 for calendar-year corporations. Fiscal year corporations file by the 15th day of the fourth month after their year ends.
Extensions give you more time to file but not more time to pay. A federal extension automatically extends your Virginia return by the same period. Partnerships and S-Corps get a 6-month extension to September 15. Individual returns extend to October 15. C-Corps extend 6 months from the original due date. You still owe interest on any unpaid balance, so extensions work best when you’ve already paid what you owe and just need more time for paperwork.
Estimated taxes are separate from your annual return. If you expect to owe more than $150 in Virginia taxes after withholding and credits, you need to make quarterly estimated payments. Those are due April 15, June 15, September 15, and January 15 of the following year. Missing estimated payments triggers underpayment penalties even if you file your annual return on time.
If any deadline falls on a weekend or holiday, it moves to the next business day. The IRS and Virginia Department of Taxation announce adjusted dates each year when this happens.
Missing deadlines costs real money. Virginia charges penalties for late filing and late payment, plus interest that compounds on unpaid balances. Even if you can’t pay the full amount, filing on time avoids the late filing penalty. Monthly bookkeeping keeps your records current so you know what you’ll owe well before the deadline and can plan accordingly.
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More Questions
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Start by gathering all your bank and credit card statements for the missing months. Check for urgent deadlines like quarterly taxes or pending loan applications, then work through reconciliation one month at a time starting with the oldest.
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You need to collect sales tax in states where you have economic nexus, which usually means exceeding $100,000 in sales or 200 transactions. The rules changed in 2018, so physical presence is no longer required.
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