Section 110. Returns of estates and trusts

A. Filing requirements.

1. Every resident estate or trust which either is required to file a federal income tax return for the taxable year or which has any Virginia taxable income for the taxable year must file an income tax return. If the return is for a fractional part of a year, the due date shall be determined as if the return were for a full 12-month period, that is, it shall be due by the 15th day of the fourth month after the close of the taxable year.

2. Every nonresident estate or trust having Virginia taxable income for the taxable year determined under 23VAC10-115-50 must file an income tax return.

3. The return must be accompanied by a copy of any federal fiduciary tax return filed for such taxable year.

B. Due date.

1. The return is due on or before May 1 of each year for fiduciaries filing on a calendar-year basis.

2. If the return is for a fiscal or fractional year, it is due on or before the 15th day of the fourth month after the close of the taxable year.

C. Who to file.

1. Deceased individual. The return for any deceased individual shall be made and filed by his executor, administrator, or other person charged with his property.

2. Fiduciary. The return for an estate or trust shall be made and filed by the fiduciary.

3. Two or more fiduciaries. If two or more fiduciaries are acting jointly, the return may be made by any one of them.

D. Report of change. If the amount of any fiduciary's federal taxable income is changed or corrected by the Internal Revenue Service or other competent authority or as the result of a renegotiation of a contract or subcontract with the United States, such fiduciary must report the change or correction to the department within 90 days from the date of the final determination of such change, correction, or renegotiation. In reporting a change, correction or renegotiation, the fiduciary shall either concede its accuracy or state why such is erroneous.

E. Amended return. When any fiduciary files an amended federal income tax return for any taxable year, it must also file an amended Virginia return for such taxable year. The amended return must be filed within 90 days of the filing of the complementary federal amended return, except that any amended return claiming a refund for overpayment of tax must be filed within 60 days of the final determination of any changes in its federal tax liability. (See 23VAC10- 20-180.)

F. Final determination. For purposes of this section a "final determination" of a change in federal tax liability shall have the same meaning as set forth in 23VAC10-20-180 B.

Historical Notes

Derived from VR630-5-381, eff. January 1, 1985.

Statutory Authority

§§ 58.1-203 and 58.1-381 of the Code of Virginia.