Q: Hi, we have registered our business in IRS and Commonwealth of Virginia but forget to register in Virginia depart of tax
so what should we do?
we should register it in Virginia department of taxation in bad date ?
or in today date?
and we just registered our business, not do any tranactions during the period so we will have to file return on bad date, or just carry on in 2024 and start filling from 2024
Sorry for editing this question,
one more confusion is that we have registered in IRS and commonwealth of Virginia in Nov-16-2011,
IRS confirmed that entity still exist but commonwealth of Virginia has cancelled our registrations due to not pay yearly payment so on last year we have registered again in commonwealth of Virginia with the same name of Business in different location in Virginia and then they issued us the new Entity ID
so which date should we consider to registered in Virginia department of Taxation like last year?
A:
If you have already registered your business with the IRS and the Commonwealth of Virginia but forgot to register with the Virginia Department of Taxation, you should take the following steps:
1. Register with the Virginia Department of Taxation as soon as possible. Do not backdate the registration, as this could lead to penalties and legal issues. Use the current date when registering.
2. Since you have not conducted any transactions since registering your business, you may not need to file tax returns for the period between your registration with the IRS and the Commonwealth of Virginia and your registration with the Virginia Department of Taxation. However, it is best to consult with a tax professional or contact the Virginia Department of Taxation directly to confirm your specific situation and any potential filing requirements.
3. Moving forward, ensure that you file all required tax returns with the Virginia Department of Taxation, starting from the date of your registration with them. This will likely mean filing returns for the 2024 tax year and onwards, assuming you begin conducting business transactions in 2024.
It is essential to stay compliant with all state and federal tax requirements to avoid penalties and legal issues. If you have any doubts or concerns, it is always best to consult with a qualified tax professional who can provide guidance specific to your situation.
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