Virginia Tax Department Issues Guide on New Elective Pass-Through Entity Tax

The Virginia Department of Taxation issued a guide on the state’s new elective pass-through entity tax (PTET) and filing requirements for pass-through entities (PTEs). The guide outlines filing deadlines, payment requirements, and available resources for PTEs electing the PTET, as well as those filing PTE returns (Form 502) and composite nonresident returns (Form 765). [Va. Dep’t of Tax’n, Pass-Through Entities, 01/01/25]

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