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Virginia Administrative Code
Title 23. Taxation
Agency 10. Department of Taxation
Chapter 112. Declaration of Estimated Income Tax by Individuals
11/21/2024

23VAC10-112-20. Declarations of estimated tax; requirement of declaration.

A. Every resident and nonresident individual shall make a declaration of his estimated tax for every taxable year, if his estimated tax, as defined in 23VAC10-112-10, is greater than $150. This requirement of declaration is in effect throughout the entire taxable year.

B. A taxpayer is not required to file a declaration if:

1. His estimated tax is $150 or less; or

2. He is single and his expected Virginia adjusted gross income is less than $5,000; or

3. He is married and the combined expected Virginia adjusted gross income of the couple is less than $8,000; or

4. He is not required to file a Virginia income tax return pursuant to the provisions of § 58.1-342 of the Code of Virginia.

EXAMPLE 1: Taxpayer A is employed to render domestic service in the local chapter of a college fraternity. The wages he receives are not subject to withholding under subdivision 2 of § 58.1-460 of the Code of Virginia. His only other income consists of interest and dividend payments. His total Virginia adjusted gross income for the taxable year is expected to be less than $5,000. Because his estimated Virginia adjusted gross income will be less than the minimum amount specified under § 58.1-321 of the Code of Virginia subjecting him to taxation, he is not required to file a declaration.

EXAMPLE 2: Assume that Taxpayer A, in addition to his income above, also works in the local grocery store and taxes are withheld from his wages. His total Virginia adjusted gross income from both jobs exceeds $5,000 for the year. Therefore, he is subject to taxation and is required to file a return. If his estimated tax for the year exceeds his withholding and any other credits by more than $150, he must file a declaration of estimated tax.

Statutory Authority

§§ 58.1-203 and 58.1-490 of the Code of Virginia.

Historical Notes

Derived from VR630-2-490.2 § 1; adopted September 19, 1984, eff. January 1, 1985; amended, eff. February 1, 1989, but retroactive in effect for taxable years beginning on and after January 1, 1987.

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