502w 2026

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The document outlines the requirements for pass-through entities (PTEs) in Virginia regarding withholding tax payments for nonresident owners. It specifies that PTEs must electronically submit returns and payments, detailing the withholding rate of 5% on taxable income allocated to nonresidents. The document provides instructions for electronic payment methods, filing deadlines, exemptions from withholding, and penalties for late payments or filings. Additionally, it includes guidelines for claiming exemptions and necessary documentation.

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Click ‘Get Form’ to open the 502W in the editor.
Begin by entering your Pass-Through Entity's FEIN and entity type. Choose the appropriate code from the provided list, such as SC for S Corporation or PG for General Partnership.
Input the NAICS code, which is a 6-digit number that classifies your business. You can find this code on the Department’s website.
Fill in the ending month and year for your tax period. This ensures your payment is credited correctly.
Calculate the withholding amount by determining the taxable income of nonresident owners and applying a 5% tax rate. Adjust for any applicable tax credits before entering the total payment amount.
Finally, sign and date the form, providing your phone number for any follow-up inquiries.

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Versions	Form popularity	Fillable & printable
2023	4.8 Satisfied (59 Votes)
2022	4.8 Satisfied (56 Votes)
2021	4.9 Satisfied (35 Votes)
2020	4.4 Satisfied (215 Votes)
2019	4.3 Satisfied (136 Votes)
2018	4.4 Satisfied (252 Votes)
2011	4.3 Satisfied (162 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Does Virginia require nonresident withholding?

A pass-through entity must pay the pass-through entity withholding tax for all of its nonresident owners unless an exemption applies.

Who is required to file a Virginia state tax return?

According to Virginia Instructions for Form 760, you must file a Virginia tax return IF: You are a resident, nonresident or part year resident of Virginia and you have to file a federal income tax return.

What is Virginia form 502?

Every pass-through entity (PTE) that does business in Virginia or receives income from Virginia sources must file an annual Virginia income tax return on Form 502.

What is the pass through withholding tax in Virginia?

The PTE is required to withhold 5% of the share of taxable income from Virginia sources that is allocable to each nonresident owner. The amount of withholding tax may be reduced by any tax credits that were earned by the PTE and allowable by the Code of Virginia that pass through to nonresident owners.

What is form 502?

More In Forms and Instructions Publication 502 explains the itemized deduction for medical and dental expenses that you claim on Schedule A (Form 1040), including: What expenses, and whose expenses, you can and cannot include in figuring the deduction. How to treat reimbursements and how to figure the deduction.

va form 502w

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Is everyone subject to Virginia withholding?

If the wages are not subject to federal withholding, they are not subject to Virginia withholding. Complete instructions for withholding Virginia income tax from wages, salaries, and other payments are contained in the Virginia Employer Withholding Instructions.

Who must file Virginia Form 502?

S Corporations, Partnerships, and Limited Liability Companies. Every pass-through entity (PTE) that does business in Virginia or receives income from Virginia sources must file an annual Virginia income tax return on Form 502 or Form 502PTET.

What is a 502W form?

Form 502W is used to make a withholding payment prior to filing the return of income, Form 502. This will occur most often when the PTE utilizes the automatic extension to file. Form 502W can also be used to make a withholding payment prior to the due date.

502w 2026

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Does Virginia require nonresident withholding?

Who is required to file a Virginia state tax return?

What is Virginia form 502?

What is the pass through withholding tax in Virginia?

What is form 502?

Complete this form in 5 minutes or less

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Is everyone subject to Virginia withholding?

Who must file Virginia Form 502?

What is a 502W form?

virginia form 502w

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