23 Va. Admin. Code § 10-120-321
Current through Register Vol. 40, No. 22, June 17, 2024
Section 23VAC10-120-321 - Separate return; description; filingA. Description. A separate return shows only the income, expenses, gains, losses, allocable income, and apportionment factors of the filing corporation. All affairs of other members of the affiliated group are ignored unless § 58.1-446 of the Code of Virginia applies.B. Filing. If the affiliated group filed a consolidated federal return and the filing corporation files a separate Virginia return, a complete copy of the federal consolidated return must be filed with the Virginia return. If the federal return is so voluminous that it is impractical to file a complete copy with the Virginia return, the complete federal return must be made available to the department upon request. A worksheet must accompany the federal consolidated return, showing the adjustments and eliminations for consolidation in form similar to that set forth in 23VAC10-120-322 C.23 Va. Admin. Code § 10-120-321
Derived from VR630-3-442 § 2, eff. January 1, 1985; amended, eff. March 10, 1993.Statutory Authority
§§ 58.1-203 and 58.1-442 of the Code of Virginia.