Minimum Tax on Telecommunications Companies
Pursuant to §58.1-400.1 of the Code of Virginia, telecommunications
companies are subject to a minimum tax instead of a corporate income tax if the corporate
income tax imposed by §58.1-400 of the Code of Virginia is less than the minimum tax.
Every tax year the Commission certifies the name, address, and gross receipts
of each telecommunications company to the Department of Taxation. Each company is notified
of its certification.
A Statement of Gross Receipts is included as the last section of the
Telecommunications Companies Annual Tax Report.