Form 502 "Pass-Through Entity Return of Income and Return of Nonresident Withholding Tax" - Virginia

What Is Form 502?

This is a legal form that was released by the Virginia Department of Taxation - a government authority operating within Virginia. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on January 1, 2017;
  • The latest edition provided by the Virginia Department of Taxation;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;

Download a fillable version of Form 502 by clicking the link below or browse more documents and templates provided by the Virginia Department of Taxation.

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Download Form 502 "Pass-Through Entity Return of Income and Return of Nonresident Withholding Tax" - Virginia

776 times
Rate (4.5 / 5) 46 votes
2017 Virginia
Pass-Through Entity
*VA0PTE117888*
Form 502
Return of Income and Return of
Nonresident Withholding Tax
Department of Taxation
P.O. Box 1500
Official Use Only
Richmond, VA 23218-1500
FISCAL or
SHORT Year Filer: Beginning Date ___________________ 2017; Ending Date _________________ , 20_______
Check if Schedules VK-1 were filed by Web Upload 
By checking the box to the right, I (we) authorize the Department to discuss this return with the undersigned tax preparer. 
Check if:
Initial return
Amended return
Final return
Name change
Address change
  Change in fiscal year
  Unified nonresident return filed 
Electing large partnership
  Subject to Bank Franchise Tax 
FEIN
Date of Formation
Entity Type (see instructions)
Entity Name
Date Operations Began in Virginia
NAICS
Number and Street
State or County Where Incorporated 
Description of Business Activity
or Organized
City or Town, State, and ZIP Code
Number and Types of Owners
(See instructions)
Count all of the owners who were issued a federal Schedule K-1 for the taxable year and enter:
a. The total number of owners (include individuals and any other entity types)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . a.
b. The total number of nonresident owners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b.
c. Total amount withheld for nonresident owners (total of Line e from all Schedules VK-1) . . . . . . . . . . . . . . . . . . . c.
.00
d. If the entity is exempt from withholding, enter the exemption code  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . d.
Distributive or Pro Rata Income and Deductions
(See instructions)
1. Total taxable income amounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.
.00
2. Total deductions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.
.00
3. Tax-exempt interest income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.
.00
Allocation and Apportionment:
Check if electing the manufacturer’s alternative method of apportionment
4. Income allocated to Virginia from Schedule 502A, Section C, Line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.
.00
5. Income allocated outside of Virginia from Schedule 502A, Section C, Line 3(e)  . . . . . . . . . . . . . . . . . . . . . . . . . 5.
.00
6. Apportionable income from Schedule 502A, Section C, Line 4  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.
.00
7. Virginia apportionment percentage from Schedule 502A, Section B, percent from Line 1 or Line 2(g) or 100% . . . 7.
%
Virginia Additions - See Schedule 502ADJ for Other Additions
8. Fixed date conformity - depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.
.00
9. Fixed date conformity - other  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.
.00
10. Net income tax or other tax used as a deduction in determining taxable income (see instructions)  . . . . . . . . . . . 10.
.00
11. Interest on municipal or state obligations other than from Virginia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
.00
12. Total additions from enclosed Schedule 502ADJ, Section A , Line 5  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.
.00
13. Total additions. Add Lines 8 through 12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.
.00
Virginia Subtractions - See Schedule 502ADJ for Other Subtractions
14. Fixed date conformity - depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.
.00
15. Fixed date conformity - other  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.
.00
16. Income from obligations of the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.
.00
17. Total subtractions from enclosed Schedule 502ADJ, Section B, Line 5  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.
.00
18. Total subtractions. Add Lines 14 through 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.
.00
Virginia Tax Credits Passed Through to Owners
19. Total nonrefundable credits from enclosed Schedule 502ADJ, Section C, Line 38  . . . . . . . . . . . . . . . . . . . . . . . 19.
.00
20. Total refundable credits from enclosed Schedule 502ADJ, Section C, Line 46  . . . . . . . . . . . . . . . . . . . . . . . . . . 20.
.00
Va. Dept. of Taxation  2601015-W  Rev. 07/17
2017 Virginia
Pass-Through Entity
*VA0PTE117888*
Form 502
Return of Income and Return of
Nonresident Withholding Tax
Department of Taxation
P.O. Box 1500
Official Use Only
Richmond, VA 23218-1500
FISCAL or
SHORT Year Filer: Beginning Date ___________________ 2017; Ending Date _________________ , 20_______
Check if Schedules VK-1 were filed by Web Upload 
By checking the box to the right, I (we) authorize the Department to discuss this return with the undersigned tax preparer. 
Check if:
Initial return
Amended return
Final return
Name change
Address change
  Change in fiscal year
  Unified nonresident return filed 
Electing large partnership
  Subject to Bank Franchise Tax 
FEIN
Date of Formation
Entity Type (see instructions)
Entity Name
Date Operations Began in Virginia
NAICS
Number and Street
State or County Where Incorporated 
Description of Business Activity
or Organized
City or Town, State, and ZIP Code
Number and Types of Owners
(See instructions)
Count all of the owners who were issued a federal Schedule K-1 for the taxable year and enter:
a. The total number of owners (include individuals and any other entity types)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . a.
b. The total number of nonresident owners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b.
c. Total amount withheld for nonresident owners (total of Line e from all Schedules VK-1) . . . . . . . . . . . . . . . . . . . c.
.00
d. If the entity is exempt from withholding, enter the exemption code  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . d.
Distributive or Pro Rata Income and Deductions
(See instructions)
1. Total taxable income amounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.
.00
2. Total deductions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.
.00
3. Tax-exempt interest income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.
.00
Allocation and Apportionment:
Check if electing the manufacturer’s alternative method of apportionment
4. Income allocated to Virginia from Schedule 502A, Section C, Line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.
.00
5. Income allocated outside of Virginia from Schedule 502A, Section C, Line 3(e)  . . . . . . . . . . . . . . . . . . . . . . . . . 5.
.00
6. Apportionable income from Schedule 502A, Section C, Line 4  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.
.00
7. Virginia apportionment percentage from Schedule 502A, Section B, percent from Line 1 or Line 2(g) or 100% . . . 7.
%
Virginia Additions - See Schedule 502ADJ for Other Additions
8. Fixed date conformity - depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.
.00
9. Fixed date conformity - other  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.
.00
10. Net income tax or other tax used as a deduction in determining taxable income (see instructions)  . . . . . . . . . . . 10.
.00
11. Interest on municipal or state obligations other than from Virginia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
.00
12. Total additions from enclosed Schedule 502ADJ, Section A , Line 5  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.
.00
13. Total additions. Add Lines 8 through 12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.
.00
Virginia Subtractions - See Schedule 502ADJ for Other Subtractions
14. Fixed date conformity - depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.
.00
15. Fixed date conformity - other  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.
.00
16. Income from obligations of the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.
.00
17. Total subtractions from enclosed Schedule 502ADJ, Section B, Line 5  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.
.00
18. Total subtractions. Add Lines 14 through 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.
.00
Virginia Tax Credits Passed Through to Owners
19. Total nonrefundable credits from enclosed Schedule 502ADJ, Section C, Line 38  . . . . . . . . . . . . . . . . . . . . . . . 19.
.00
20. Total refundable credits from enclosed Schedule 502ADJ, Section C, Line 46  . . . . . . . . . . . . . . . . . . . . . . . . . . 20.
.00
Va. Dept. of Taxation  2601015-W  Rev. 07/17
2017
*VA0PTE217888*
Name
________________________________________
Form 502
FEIN
_________________________
Page 2
Section 1: Withholding Payment Reconciliation
1. Total withholding tax due for nonresident owners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.00
1.
2. Total withholding tax paid (Entity’s own payments only – see instructions)  . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.00
2.
3. Overpayment. If Line 2 is greater than Line 1, subtract Line 1 from Line 2  . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.00
3.
4. Withholding tax due. If Line 2 is less than Line 1, subtract Line 2 from Line 1 . . . . . . . . . . . . . . . . . . . . . . . . .
.00
4.
Section 2: Penalty and Interest Charges on Withholding Tax
5. Extension penalty (may apply to returns filed within extension period if 90% of Line 1 is not paid timely) . . . .
.00
5.
6. Late payment penalty on tax due (will apply if there is a balance due on Line 4 and Form 502 is being filed 
more than 6 months after the original due date). Enter 30% of the amount on Line 4 . . . . . . . . . . . . . . . . . . .
.00
6.
7. Interest (may apply if there is a balance due on Line 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.00
7.
8. Penalty and interest charges due. Add Line 5 or Line 6 (whichever applies) to Line 7 . . . . . . . . . . . . . . . . . . .
.00
8.
Section 3: Penalty for Late Filing of Form 502
9. If Form 502 is being filed more than 6 months after the original due date, or more than 30 days after the 
federal extended due date, enter $1,200. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.00
9.
Section 4: Withholding Overpayment
10. Net overpayment. If Line 8 or Line 9 exceeds Line 3, go to Line 13 below to compute the total payment due. 
Compare Line 6 and Line 9. If Line 6 is greater than Line 9, subtract Line 8 from Line 3. If Line 9 is greater 
than Line 6, subtract Line 7 plus Line 9 from Line 3. Otherwise, enter overpayment amount from Line 3 . . . .
.00
10.
11. Amount of withholding overpayment to be credited to 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.00
11.
12. Amount of withholding overpayment to be refunded . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.00
12.
Section 5: Tax, Penalty, and Interest Due
13. Balance of tax due plus extension penalty, if applicable. If there is an amount due on Line 4, enter Line 4 plus Line 5. 
If there is an overpayment on Line 3 and Line 8 or Line 9 is greater than Line 3, enter Line 5 minus Line 3 . . . . . . .
.00
13.
14. Interest charges on withholding tax from Line 7  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.00
14.
15. Late filing penalty. Enter the greater of Line 6 or Line 9  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.00
15.
16. Total payment due. Add Line 13, Line 14, and Line 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.00
16.
Section 6: Amount Due or Refund
17. Motion Picture Production Tax Credit to be refunded directly to PTE (see instructions) . . . . . . . . . . . . . . . . . .
.00
17.
18. Research and Development Expenses Tax Credit to be refunded directly to PTE (see instructions) . . . . . . . .
.00
18.
19. Credit to be refunded directly to PTE. Add Line 17 and Line 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.00
19.
20. Amount Due. If there is an amount due on Line 16 and the amount exceeds the amount on Line 19, subtract 
Line 19 from Line 16.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.00
20.
21. Amount of Refund. If there is an amount due on Line 16 and the amount is less than the amount on Line 19, 
subtract Line 16 from Line 19. If there is an amount on Line 12, add Line 12 and Line 19  . . . . . . . . . . . . . . . .
.00
21.
I, the undersigned owner and authorized representative of the pass-through entity for which this return is made, declare under the penalties 
provided by law that this return (including any accompanying schedules, statements, and enclosures) has been examined by me and is, to the 
best of my knowledge and belief, a true, correct, and complete return, made in good faith, for the taxable year stated, pursuant to the tax laws 
of the Commonwealth of Virginia. A preparer other than the authorized representative declares the same, and such declaration is based on all 
information of which he or she has any knowledge.
Signature of Owner or Authorized Representative
Title
Date
Printed Name of Owner or Authorized Representative
Phone
Individual or Firm, Signature of Preparer, Phone Number, and Address
Date
Printed Name of Individual or Firm
Preparer’s FEIN, PTIN, or SSN
Approved Vendor Code
Include a copy of your federal return with Form 502. Important: do not include a federal Schedule K-1 for each owner. If you filed a Schedule VK-1
for each owner online using Web Upload, do not include copies of Schedules VK-1 with the Form 502.
Do not submit Form 765 with this return - Mail it to the address on Form 765.
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