Virginia Administrative Code › Title 23 - TAXATION › Agency 10 - DEPARTMENT OF TAXATION › Chapter 140 - INCOME TAX WITHHOLDING › Section 23VAC10-140-130 - Employer's returns and payments of withheld taxes

Current through Register Vol. 40, No. 24, July 15, 2024
Every employer required to deduct and withhold from an
				  employee's wages under this chapter shall file a return and pay over to the
				  Commissioner on a calendar year basis (without regard to the taxable year of
				  the employer or employee for income tax purposes) the amount required to be
				  withheld hereunder as follows:
1.
				Quarterly filer-every employer whose monthly liability is less than $100 shall
				file a return and pay over withheld taxes, on or before April 30 for the first
				quarter, July 31 for the second quarter, October 31 for the third quarter, and
				January 31 for the fourth quarter.
2. Monthly filer-every employer whose average
				monthly liability can reasonably be expected to be $100 or more, shall file a
				return and pay over withheld taxes monthly, on or before the 20th day of the
				following month for each month which does not close a quarterly period and, for
				months that close a quarter (March, June, September and December), on or before
				the last day of the following month.
3. Quarter-monthly filer-every employer whose
				average monthly liability can reasonably be expected to be $1,000 or more,
				shall file a return and pay over withheld taxes as in the preceding paragraph
				2. In addition, if on the 7th, 15th, 22nd or last day of any month the
				aggregate amount required to be withheld exceeds $500, the employer must file a
				form with the Commissioner within three banking days following the close of
				such quarter-monthly period and pay the amount so withheld. However, when a
				quarter-monthly payment is due within three days of the due date for the filing
				of the monthly returns, the payment must be made with such return. Any employer
				making payment under this paragraph 3 will be deemed to have met the
				requirements hereof if at least 90% of actual tax liability for such period is
				paid. When a quarter-monthly payment is due within three days of the due date
				for the filing of the quarterly returns, the payment may be made within up to
				three banking days after the due date for the quarterly returns.
Example: Employer X has a liability of $400 for the
				  quarter-monthly period ending January 7. Because his liability does not exceed
				  $500 no payment is required for that period. His liability for the
				  quarter-monthly period ending January 15 is also $400. Because the accumulated
				  liability for the two quarter-monthly periods ($800) exceeds $500, Employer X
				  must pay $800 within three banking days of January 15.
4. Seasonal filer-employers who operate
				seasonal businesses may request permission to file returns only for those
				months in which Virginia income tax is withheld. The request must be in writing
				and, for employers who qualify, the returns must be filed on or before the 20th
				day of the following month which does not close a quarterly period and for
				months that close a quarter (March, June, September and December), on or before
				the last day of the following month.
The returns and forms filed under this section shall be in
				  such form and contain such information as the Commissioner may
				  prescribe.
Statutory Authority
§§ 58.1-203 and 58.1-472 of the Code of
					 Virginia.