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Virginia Free Printable 2020 Schedule 500EL - Virginia Electric Suppliers Corporation Minimum Tax and Credit Schedule for 2021 Virginia Electric Suppliers Tax

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Electric Suppliers Tax
2020 Schedule 500EL - Virginia Electric Suppliers Corporation Minimum Tax and Credit Schedule

2020 Virginia Schedule 500EL Department of Taxation P.O. Box 1500 Richmond, VA 23218-1500 Electric Suppliers Corporation Minimum Tax and Credit Schedule *VAELMT120888* Name as shown on Virginia return Name of electric supplier, if different from above FEIN For taxable year beginning , 2020; , 20 and ending Calendar year during which gross receipts were earned Part I – Minimum Tax Reported By SCC 1. Enter the minimum tax as certified by the State Corporation Commission. . . . . . . . . . . . . . . . . . . . . . 1. .00 2. .00 3. Enter the amount from consolidated or combined Form 500, Line 11. . . . . . . . . . . . . . . . . . . . . . . . . . 3. .00 4. Enter the amount from electric supplier’s separately computed Form 500, Line 11. . . . . . . . . . . . . . 4. .00 5. Enter the smaller of the two (Line 3 or Line 4). If greater than Line 1 above, skip to Line 9. . . . . . . 5. .00 6. If separate return filer, subtract Line 2 from Line 1. If consolidated or combined return filer,subtract Line 5 from Line 1. If greater than zero, continue to Line 7 and complete Line 8 and Lines 15-17. If less than zero, enter zero and skip to Line 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6. .00 7. Add the amount on Line 6 to the amount on Line 2 (separate filer) or Line 3 (consolidated or combined filer). Enter this amount on Line 11 of Form 500, and replace the amount computed on Form 500 and in the Electric Supplier Company section of Form 500, Page 1. . . . . . . . . . . . . . . . . . 7. .00 8. .00 9. .00 10. Carryover credit from prior years (Do not exceed the amount on Line 9). . . . . . . . . . . . . . . . . . . . . . . 10. .00 11. Subtract Line 10 from Line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. .00 12. Carryover estimated income tax payments (prior to 1992). Do not exceed the amount on Line 11 . . 12. .00 13. Subtract Line 12 from Line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13. .00 14. Add Line 13 and Line 1. Enter on Line 11 of Form 500, and replace the amount computed on Form 500 and in the Electric Supplier Company section of Form 500, Page 1. . . . . . . . . . . . . . . . . . 14. .00 Part II – Separate Return Filers - Tax Computation 2. Enter the amount from Form 500, Line 11. If greater than Line 1 above, skip to Line 9.. . . . . . . . . . Part III – Consolidated Or Combined Return Filers – Tax Computation Part IV – Minimum Tax Computation Part V – Current Year Tax Credit Carryover Amount 8. Enter the amount from Line 6. This is your minimum tax credit amount that is available for carryforward . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Part VI – Corporate Tax Computation 9. If the adjusted corporate tax on Line 2 or Line 5 is greater than Line 1, enter the amount by which the corporate tax exceeds the minimum tax on Line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Part VII – Tax Credit Carryover Amount 15. Enter the corporate tax credit from the excess minimum tax from Line 8. . . . . . . . . . . . . . . . . . . . . . . 15. .00 16. Enter prior year carryover credits that were not used on Line 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16. .00 17. Carryover credit for 2021: (Add Lines 15 and 16) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17. .00 18. Enter prior year estimated payments that were not used on Line 12. . . . . . . . . . . . . . . . . . . . . . . . . . . 18. .00 Enclose Schedule 500EL and any other pertinent information with Form 500, Virginia Corporation Income Tax Return. Va. Dept. of Taxation  6201118-W  Rev. 08/20
Extracted from PDF file 2020-virginia-form-500el.pdf, last modified August 2020

More about the Virginia Form 500EL Corporate Income Tax TY 2020

We last updated the Electric Suppliers Tax in March 2021, so this is the latest version of Form 500EL, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form 500EL directly from TaxFormFinder. You can print other Virginia tax forms here.


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Other Virginia Corporate Income Tax Forms:

TaxFormFinder has an additional 135 Virginia income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form EDC EDC - Taxpayer Application for Qualified Equity and Subordinated Debt Investments Credit
Form 500 Corporate Income Tax Return
Form 500V 500V - Corporation Income Tax Payment Voucher
Form PT-1 Probate Tax Return
Form 502V 502V - Pass-Through Entity Tax Payment Voucher

Download all VA tax forms View all 136 Virginia Income Tax Forms


Form Sources:

Virginia usually releases forms for the current tax year between January and April. We last updated Virginia Form 500EL from the Department of Taxation in March 2021.

Show Sources >

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Virginia Form 500EL

We have a total of ten past-year versions of Form 500EL in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2020 Form 500EL

2020 Schedule 500EL - Virginia Electric Suppliers Corporation Minimum Tax and Credit Schedule

2019 Form 500EL

2019 Schedule 500EL - Virginia Electric Suppliers Corporation Minimum Tax and Credit Schedule

2018 Form 500EL

2018 Schedule 500EL - Virginia Electric Suppliers Corporation Minimum Tax and Credit Schedule

2017 Form 500EL

2017 Virginia Schedule 500EL - Electric Suppliers Corporation Minimum Tax and Credit Schedule

2016 Form 500EL

2016 Virginia Schedule 500EL - Electric Suppliers Corporation Minimum Tax and Credit Schedule

2015 Form 500EL

500EL& instr 15 ER Web Final 06 10 15.indd

500EL - Electric Suppliers Corporation Minimum Tax and Credit Schedule 2014 Form 500EL

500EL& instr 14 ER 09 05 14.indd

500EL - Electric Suppliers Corporation Minimum Tax and Credit Schedule 2013 Form 500EL

500EL& instr 13 Final Web 10 21 13.indd

2012 Form 500EL

500EL& instr 12 final 08 02 12.indd

2011 Form 500EL

500EL& instr 11 WEB early release 12 12 11.indd


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