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Screen VBGen - Virginia Personal Property Tax

Overview

Use this window to complete general information questions for Virginia Property Tax returns.

Federal-to-state input screen and asset module data transfer

If information is transferred from federal input screens or from the asset module to a state input screen, the application displays the transferred data in blue .
If necessary, you can overrule the transferred amount by entering the appropriate amount in the field. The application then displays the new amount in black.

Statements

Many data entry fields provide predefined statements in which you can enter additional information. For additional information, see the statements overview.

Accessing frequently asked questions

To view answers to common questions about calculations and data entry issues:
  1. Select
    Help
    , then
    Additional Resources
    , followed by
    Frequently Asked Questions
    .

General Information

Use this section to record general business information for the client’s Virginia Property Tax return.
Enter
X
 to use data from the VA treatment column in Fixed Assets CS or the asset module in UltraTax CS.
Enter
X
 to use the net book value if no fair market values have been entered.
Enter the name as it appears on the client’s business license. If you leave this field blank, UltraTax CS defaults to the client name.
Enter
1
,
2
, or
3
 to indicate the taxpayer, spouse, or joint names to appear on the return or use
F4
 to select an option from the dropdown.
Type Code
Description
1
Taxpayer (Default)
2
Spouse
3
Joint
Enter the name which the business uses to identify itself in its trade. Various counties and cities refer to this information in slightly different terms.
Enter the company’s employer identification number. If you leave this field blank, UltraTax CS defaults to the federal employer identification number for all entities except 1040 and 1041.
Enter the taxpayer’s business address. If you leave these fields blank, UltraTax CS defaults to the federal business address for all entities except 1040 and 1041.
Enter the fax number for the business. If you leave this field blank, UltraTax CS defaults to the federal fax number entered under client contact information.
Enter the mobile number for the business. If you leave this field blank, UltraTax CS defaults to the federal mobile number entered under client contact information.
Enter the North American Industrial Classification System code number for the business. If you leave this field blank, UltraTax CS defaults to the federal code for 1120 and 1065 only.
Enter the dates on which the business first commenced and / or ended in the county. If you leave this field blank, UltraTax CS defaults to the federal date incorporated for 1120 and 1065 clients.
Enter the tax year end. If this field is blank, UltraTax CS defaults to the federal tax year ending for 1120, 1065, and 1041 clients.
Enter the taxpayer’s telephone number. If you leave this field blank, UltraTax CS defaults to the federal telephone number.
Enter the taxpayer’s type of business. If you leave this field blank, UltraTax CS defaults to the federal business activity for 1120 and 1065.
Enter the taxpayer’s entity type. If you leave this field blank, UltraTax CS defaults to the federal entity type. This information is used on the Henrico County Form 740-A.
UltraTax CS defaults to the business address information if these fields are blank.

Taxpayer Declaration

Use this section to enter information pertaining to the declaration section of Virginia property tax returns.
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