Virginia State W 9 Form

Virginia State W 9 Form

The Virginia State W-9 form is a request for taxpayer identification information used by individuals and entities doing business with the Commonwealth of Virginia. This form allows the requester to obtain the correct taxpayer identification number (TIN) to report income, ensuring compliance with federal tax regulations. Proper completion of the W-9 is essential to avoid backup withholding and to certify the taxpayer's identity.

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The Virginia State W-9 form serves as a crucial document for individuals and entities operating within the Commonwealth of Virginia. This form is primarily used to request taxpayer identification information, which is essential for reporting income to the IRS. When completing the form, you must provide either your Social Security Number (SSN) or Employer Identification Number (EIN), ensuring that it matches the legal name listed to prevent backup withholding. Additionally, the form requires you to identify your entity type, such as an individual, corporation, or partnership, and to certify your taxpayer identification number's accuracy. If applicable, you may also claim exemption from backup withholding and provide your contact information. Failure to submit accurate information can lead to penalties, including backup withholding on payments you receive. Understanding the requirements and implications of the Virginia State W-9 form is vital for compliance and smooth financial transactions.

Common mistakes

Filling out the Virginia State W-9 form can be straightforward, but many people make common mistakes that can lead to delays or issues. One frequent error is entering an incorrect Taxpayer Identification Number (TIN). The TIN must match the name provided on the form. If the numbers do not align, it can trigger backup withholding. Always double-check the TIN against official documents to ensure accuracy.

Another common mistake involves misidentifying the entity type. Individuals often select the wrong classification, such as marking "Corporation" instead of "Individual." This can lead to complications in tax reporting. It is essential to carefully read the definitions provided in the form and select the appropriate entity type that accurately reflects your situation.

Many people also forget to provide complete contact information. Leaving out the email address or phone number can hinder communication with the requester. Ensure that all fields are filled out completely to facilitate a smooth process. Providing accurate contact information can help resolve any issues quickly.

Additionally, some individuals neglect to sign the certification section. The signature is crucial as it verifies that the information provided is correct. Without a signature, the form may be considered incomplete. Always remember to sign and date the form before submission.

Finally, many filers overlook the importance of providing updated information. If there are changes in your TIN or legal name, a new W-9 form should be submitted promptly. Failing to do so can lead to penalties and issues with tax reporting. Keeping your information current is vital for compliance.

Virginia State W 9 Example

FORM W-9

 

 

 

 

Request for Taxpayer Identification

 

 

 

 

 

Commonwealth of Virginia

 

 

 

 

 

 

 

Number and Certification

 

 

 

 

 

Substitute W-9 Form

 

 

 

 

 

 

 

 

 

 

 

 

REVISED March 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Social Security Number (SSN)

Please select the appropriate Taxpayer Identification Number (EIN or SSN) type and

 

 

 

 

 

 

 

 

 

 

 

 

Employer Identification Number (EIN)

enter your 9 digit ID number . The EIN or SSN provided must match the name given

 

 

 

 

 

 

 

 

on the “Legal Name” line to avoid backup withholding. If you do not have a Tax ID

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

number, please reference "Specific Instructions Section 1." If the account is in more

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

than one name, provide the name of the individual who is recognized with the IRS as

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

the responsible party.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unique Entity Identifier (UEI) (see instructions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Legal Name:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Name:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Identification

 

 

 

 

 

 

 

Entity Type

Entity Classification

Exemptions (see instructions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Partnership

 

 

 CCorporation

Real Estate Agent

Joint Venture

 

 

 

 

 

 

Individual

 

Corporation

Professional Services

Medical Services

Exempt payee code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(if any):

 

Sole Proprietorship

 

 

 SCorporation

Political Subdivision

Legal Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(from backup withholding)

‐Taxpayer

Trust

 

Disregarded Entity

VA Local Government

Tax Exempt Organization

 

 

 

 

 

 

 

 

 

 

 

 

Exemption from FATCA reporting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

code (if any):

 

Estate

 

Limited Liability Company

Federal Government

OTH Government

 

 

 

 

 

1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

tionSec

Government

 

 

 

 

Partnership

VA State Agency

Other

 

 

 

 

 

 

NonProfit

 

 

 

 

Corporation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contact Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Legal Address:

 

 

 

 

 

 

 

 

 

 

 

Name:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Email Address:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

City:

 

State :

 

 

Zip Code:

Business Phone:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Remittance Address:

 

 

 

 

 

 

 

 

 

 

 

Fax Number:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mobile Phone:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

City:

 

State :

 

 

Zip Code:

Alternate Phone:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Under penalties of perjury, I certify that:

 

 

 

 

 

 

 

 

‐Certification2

 

1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and

Certification instructions: You must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup

 

 

2. I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue

 

 

 

Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or c) the IRS has notified me that I am

 

 

 

no longer subject to backup withholding, and

 

 

 

 

 

 

 

 

 

 

3. I am a U.S. citizen or other U.S. person (defined later in general instructions), and

 

 

 

 

 

 

Section

 

4. The FATCA code(s) entered on this form (if any) indicating that I am exempt from FATCA reporting is correct.

 

 

 

 

 

retirement arrangement (IRA), and generally, payments other than interest and dividends, you are not required to sign the certification, but

 

withholding because you have failed to report all interest and dividends on your tax return. For real estate transactions, item 2 does not

 

apply. For mortgage interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual

 

you must provide your correct TIN. See instructions titled Certification

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Printed Name:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Authorized U.S. Signature:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

If you are a nonresident alien or a foreign entity, give the requester the appropriate completed Form W-8 or Form 8233.

What is backup withholding? Persons making certain payments to you must under certain conditions withhold and pay to the IRS a percentage of such payments. This is called “backup withholding.” Payments that may be subject to backup withholding include interest, tax-exempt interest, dividends, broker and barter exchange transactions, rents, royalties, nonemployee pay, payments made in settlement of payment card and third party network transactions, and certain payments from fishing boat operators. Real estate transactions are not subject to backup withholding.

You will not be subject to backup withholding on payments you receive if you give the requester your correct TIN, make the proper certifications, and report all your taxable interest and dividends on your tax return.

Payments you receive will be subject to backup withholding if:

1.You do not furnish your TIN to the requester,

2.You do not certify your TIN when required (see Section 2 Certification for details),

3.The IRS tells the requester that you furnished an incorrect TIN,

4.The IRS tells you that you are subject to backup withholding because you did not report all your interest and dividends on your tax return (for reportable interest and dividends only), or

5.You do not certify to the requester that you are not subject to backup withholding under 4 above (for reportable interest and dividend accounts opened after 1983 only).

Certain payees and payments are exempt from backup withholding.

What is FATCA reporting? The Foreign Account Tax Compliance Act (FATCA) requires a participating foreign financial institution to report all United States account holders that are specified United States persons. Certain payees are exempt from FATCA reporting.

Updating Your Information

You must provide updated information to any person to whom you claimed to be an exempt payee if you are no longer an exempt payee and anticipate receiving reportable payments in the future from this person. For example, you may need to provide updated information if you are a C corporation that elects to be an S corporation, or if you no longer are tax exempt. In addition, you must furnish a new

Form W-9 if the name or TIN changes for the account, for example, if the grantor of a grantor trust dies.

Penalties

Failure to furnish TIN. If you fail to furnish your correct TIN to a requester, you are subject to a penalty of $50 for each such failure unless your failure is due to reasonable cause and not to willful neglect.

Civil penalty for false information with respect to withholding. If you make a false statement with no reasonable basis that results in no backup withholding, you are subject to a $500 penalty.

Criminal penalty for falsifying information. Willfully falsifying certifications or affirmations may subject you to criminal penalties including fines and/or imprisonment.

Misuse of TINs. If the requester discloses or uses TINs in violation of federal law, the requester may be subject to civil and criminal penalties.

Specific Instructions

Section 1 -Taxpayer Identification

Check the appropriate Tax Identification Number (TIN) type. Enter your EIN/SSN in the space provided. If you are a resident alien and you do not have and /or are not eligible to get an SSN, your TIN is your IRS individual taxpayer identification number (ITIN). Enter it in the social security number box. If you do not have an ITIN, see How to get a TIN below.

Number (SSN)" box and enter the SSN of the sole proprietor.

e.If you are a Single-Member LLC that is disregarded as an entity, check the "Social Security Number (SSN)" box and enter the member's SSN.

Note: If an LLC has one owner, the LLC's default tax status is "disregarded entity". If an LLC has two owners, the LLC's default tax status is "partnership". If an LLC has elected to be taxed as a corporation, it must file IRS Form 2553 (S Corporation) or IRS Form 8832 (C Corporation).

Vendors are requested to enter their Unique Entitiy Identifier Number (UEI), if applicable. See number requirement below.

Unique Entity Identifier (UEI) number requirement. The

United States Office of Management and Budget (OMB) requires all vendors that receive federal grant funds have their UEI number recorded with and subsequently reported to the granting agency. If your entity is registered in SAM.gov today, your Unique Entity ID (UEI) has already been assigned and is viewable in SAM.gov

Legal Name. If you are an individual, you must generally enter the name shown on your social security card. However, if you have changed your last name, for instance, due to marriage without informing the Social Security Administration of the name change, enter your first name, the last name shown on your social security card, and your new last name. If the account is in joint names, list first and then circle the name of the person or entity whose number you enter in Part I of the form. If you are using a name other than that which is listed on a Social Security Card, please enter the legal entity name as filed with the IRS. In general, enter the name shown on your income tax return. Do not enter a Disregarded Entity Name on this line.

Business Name. Business, Disregarded Entity, trade, or DBA ("doing business as") name.

Entity Type. Select the appropriate entity type.

Sole proprietor. Enter your individual name as shown on your social security card on the “Legal Name” line. You may enter your business, trade, or “doing business as (DBA)” name on the “Business Name” line.

Partnership. A partnership is an entity reflecting a relationship existing between two or more persons who join to carry on a trade or business. Enter the partnerships entity's name on the "Legal Name" line. This name should match the name shown on the legal document creating the entity. You may enter your business, trade, or "doing business as (DBA) name on the "Business Name" line.

Trust. A legal entity that acts as fiduciary, agent or trustee on behalf of a person or business entity for the purpose of administration, management and the eventual transfer of assets to a beneficial party. Enter the name of the legal entity on the "Legal Name" line.

Estate. A separate legal entity created under state law solely to transfer property from one party to another. The entity is separated by law from both the grantor and the beneficiaries. Enter the name of the legal entity on the "Legal Name" line.

Corporation. A company recognized by law as a single body with its own powers and liabilities, separate from those of the individual members. Enter the entity's name on the "Legal Name" line and any trade or "doing business as (DBA)" name on the "Business Name" line.

S-Corporation. A corporation that is taxed liked a partnership: a corporation in which five or fewer people own at least half the stock. Enter the entity's name on the "Legal Name" line and any trade or "doing business as (DBA)" name on the "Business Name" line.

C-Corporation. A business that is taxed as a separate entity: a business taxed under Subchapter C of the Internal Revenue Code and legally distinct from its owners. Enter the entity's name on the "Legal Name" line and any trade or "doing

Corporations are exempt from backup withholding for certain payments, such as interest and dividends. Corporations are not exempt from backup withholding for payments made in settlement of payment card or third party network transactions.

Note. If you are exempt from backup withholding, you should still complete this form to avoid possible erroneous backup withholding.

The following codes identify payees that are exempt from backup withholding:

1 - An organization exempt from tax under section 501(a), any IRA, or a custodial account under section 403(b)(7) if the account satisfies the requirements of section 401(f)(2)

2 - The United States or any of its agencies or instrumentalities 3 - A state, the District of Columbia, a possession of the United States, or any of their political subdivisions, agencies, or instrumentalities

4 - A foreign goverenemtn or any of its political subdivisions, agencies, or instrumentalities

5 - A corporation

6 - A dealer in securities or commodities required to register in the United States, the District of Columbia, or a possession of the United States

7 - A futures commission merchant registered with the Commodity Futures Trading Commission

8 - A real estate investment fund

9 - An entity registered at all times during the tax year under the Investment Company Act of 1940

10- A common trust fund operated by a bank under section 584(a)

11 - A financial institution

12 - A middleman known in the investment community as a nominee or custodian

13 - A trust exempt from tax under section 664 or described in section 4947.

The following chart shows types of payments that may be exempt from backup withholding. The chart applies to the exempt payees listed above, 1 through 13.

IF the payment is for. . . THEN the payment is exempt for. . .

Interest and dividend

All exempt payees except for 7

payments

 

Broker transactions

Exempt payees 1 through 4 and 6

 

through 11 and all C corporations.

 

S corporations must not enter an

 

exempt payee code because they

 

are exempt only for sales of

 

noncovered securities acquired prior

 

to 2012.

Barter exchange

Exempt payees 1 through 4

transactions and

 

patronage dividends

 

Payments over $600

Generally, exempt payees 1 through

required to be reported

52

and direct sales over

 

$5,0001

 

Payments made in

Exempt payees 1 through 4

settlement of payment

 

card or third party

 

network transactions

 

1See Form 1099-MISC, Miscellaneous Income, and its instructions.

2However, the following payments made to a corporation and reportable on Form 1099-MISC are not exempt from backup withholding: medical and health care payments, attorneys' fees, gross proceeds paid to an attorney, and payments for services paid by a federal executive agency.

Exemption from FATCA reporting code. The following codes identify payees that are exempt from reporting under FATCA. These codes apply to persons submitting this form for accounts maintained outside of the United States by certain foreign financial institutions. Therefore, if you are only submitting this form for an account you hold in the United States, you may leave this field blank. Consult with the person requesting this form if you are uncertain if the financial

How to get a TIN. If you do not have a TIN, apply for one immediately. To apply for an SSN, get Form SS-5, Application for a Social Security Card, from your local Social Security Administration office. Get Form W-7, Application for IRS Individual Taxpayer Identification Number, to apply for an ITIN or Form SS-4, Application for Employer Identification Number, to apply for an EIN. You can get Forms W-7 and SS-4 from the IRS by calling 1-800- TAX-FORM (1-800-829-3676) or from the IRS’s Internet Web Site www.irs.gov.

If you do not have a TIN, write “Applied For” in the space for the TIN, sign and date the form, and give it to the requester. For interest and dividend payments, and certain payments made with respect to readily tradable instruments, generally you will have 60 days to get a TIN and give it to the requester before you are subject to backup withholding on payments. The 60-day rule does not apply to other types of payments. You will be subject to backup withholding on all such payments until you provide your TIN to the requester. Note: Writing “Applied For” means that you have already applied for a TIN or that you intend to apply for one soon.

Enter the TIN which coincides with the 'Legal Name' provided on the form.

a.If you are an individual, check the "Social Security Number (SSN)" box and enter the SSN.

b.If you are a Grantor or Revocable Trust, check the "Social Security Number (SSN)" box and enter the SSN of the Grantor.

c. If you are a Resident Alien, check the "Social Security Number (SSN)" box and enter your SSN or your ITIN (IRS Individual Taxpayer Identification Number).

d.If you are a Sole Proprietor, check the "Social Security

business as (DBA)" name on the "Business Name" line.

Limited liability company (LLC). An LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation. Enter the name of the partnership or corporation. An LLC with only one member is treated as an entity disregarded as separate from its owner for income tax purposes (but as a separate entity for purposes of employment tax and certain excise taxes), unless it files Form 8832 and affirmatively elects to be treated as a corporation. If you are a single-member LLC (including a foreign LLC with a domestic owner) that is disregarded as an entity separate from its owner, enter the owner’s name on the “Legal Name” line. Caution: A disregarded domestic entity that has a foreign owner must use the appropriate Form W-8.

Contact Information. Enter your contact information.

Enter your Legal Address. Enter your Remittance Address. A Remittance Address is the location in which you or your entity receives business payments.

Enter your Business Phone Number. Enter your Mobile Phone Number, if applicable. Enter your Fax Number, if applicable. Enter your Email Address.

For clarification on any of the fields, see www.irs.gov.

Exemptions

If you are exempt from backup withholding and/or FATCA reporting, enter in the Exemptions box, any code(s) that may apply to you. See Exempt payee code and Exemption from FATCA reporting code.

Exempt payee code. Generally, individuals (including sole proprietors) are not exempt from backup withholding.

institution is subject to these requirements.

A - An organization exempt from tax under section 501(a) or any individual retirement plan as defined in section 7701(a)(37)

B - The United States or any of its agencies or instrumentalities C - A state, the District of Columbia, a possession of the United States, or any of their political subdivisions or instrumentalities

D - A corporation in the stock of which is regularly traded on one or more established securities markets, as described in Reg. section 1.1472-1(c)(1)(i)

E - A corporation that is a member of the same expanded affiliated group as a corporation described in Reg. section 1.1472-1(c)(1)(i)

F - A dealer in securities, comodities, or derivative financial instruments (including notional principal contracts, futures, forwards, and options) that is registered as such under teh laws of the United States or any state

G - A real estabte investement trust

H - A regulated investment company as defined in section 851 or an entity registered at all times during the tax year under the Investment Company Act of 1940

I - A common trust fund as defined in section 584(a) J - A bank as defined in section 581

K - A broker

L - A trust exempt from tax under section 664 or described in section 4947(a)(1)

M - A tax exempt trust under a section 403(b) plan or section 457(g) plan

Section 2 - Certification

To establish to the paying agent that your TIN is correct, you are not subject to backup withholding, or you are a U.S. person, or resident alien, sign the certification on Form W-9.

For a joint account, only the person whose TIN is shown in Part I should sign (when required).

Similar forms

The Virginia State W-9 form is similar to the IRS Form W-9, which is used for U.S. taxpayers to provide their Taxpayer Identification Number (TIN) to entities that will report income paid to them. Both forms serve the same purpose of certifying the accuracy of the TIN provided and ensuring that the taxpayer is not subject to backup withholding. The IRS Form W-9 is widely recognized and used across the United States, while the Virginia State W-9 is tailored for use within the Commonwealth of Virginia, incorporating specific state requirements alongside federal guidelines.

Another document that resembles the Virginia State W-9 is the IRS Form W-8. This form is used by foreign individuals or entities to certify their foreign status and claim any applicable tax treaty benefits. While the W-9 is for U.S. persons, the W-8 serves a similar purpose for non-U.S. persons. Both forms require the individual or entity to provide identifying information and certify their status to avoid unnecessary withholding on payments made to them.

The Form 1099 is another related document. It is used by businesses to report various types of income paid to non-employees, such as independent contractors. When a business requests a W-9 or Virginia State W-9 from a contractor, they do so to ensure they have the correct TIN to report on the 1099 form. Both documents work together to ensure accurate reporting and compliance with tax regulations.

Additionally, the IRS Form 8233 is similar in that it is used by nonresident aliens to claim exemption from withholding on compensation for independent personal services. Like the W-9, it requires certification of the individual’s tax status, but it is specifically for those who qualify under tax treaties. This document highlights the importance of correctly identifying taxpayer status to avoid unnecessary tax withholding.

The IRS Form SS-4 is another document that bears similarity to the Virginia State W-9. This form is used to apply for an Employer Identification Number (EIN). While the W-9 is used to provide an existing TIN, the SS-4 is the application process to obtain a new one. Both forms are critical in establishing the taxpayer's identity for tax purposes, ensuring proper reporting and compliance.

The IRS Form 4506-T is also akin to the Virginia State W-9 in that it is used to request a transcript of tax return information. While the W-9 certifies the taxpayer's identification and status, the 4506-T allows individuals or entities to obtain verification of their tax history. This can be important for lenders or other parties requiring proof of income or tax compliance.

The IRS Form 1040 is another document that shares a connection with the Virginia State W-9. This is the individual income tax return form used by U.S. citizens and residents to report their annual income. The information provided on the W-9, such as the TIN, is often necessary for accurately completing the 1040, as it ensures that all income is reported correctly and that the taxpayer is compliant with IRS regulations.

The Virginia State Vendor Form is similar as well, serving as a registration document for vendors doing business with the Commonwealth of Virginia. Like the W-9, it collects essential information about the vendor, including their TIN. Both forms help facilitate the proper processing of payments and compliance with tax reporting requirements.

The IRS Form 941 is another related document, as it is used by employers to report income taxes, Social Security tax, and Medicare tax withheld from employee's paychecks. While the W-9 is primarily for independent contractors, the information gathered from it can influence how a business manages its payroll and tax obligations, ensuring compliance across all forms of reporting.

Lastly, the IRS Form 1065, which is used for reporting income, deductions, gains, and losses from partnerships, is also similar. The W-9 is often required from partners to collect their TINs for accurate reporting on the 1065. Both forms ensure that all partners are accounted for and that the partnership complies with tax regulations.

Detailed Steps for Filling Out Virginia State W 9

Filling out the Virginia State W-9 form is an important task for individuals and businesses that need to provide their taxpayer identification information. After completing the form, it should be submitted to the requester who needs this information for tax reporting purposes. Here’s how to accurately fill out the Virginia State W-9 form step by step.

  1. Obtain the Form: Download the Virginia State W-9 form from the official website or request a copy from the person or organization that needs it.
  2. Identify Your Taxpayer Identification Number: Determine whether you will use your Social Security Number (SSN) or Employer Identification Number (EIN). Make sure this number matches the name you will provide on the form.
  3. Fill in Your Legal Name: Enter your full legal name as it appears on your Social Security card or tax return. If applicable, include any previous names if they differ from your current name.
  4. Enter Your Business Name: If you operate under a different business name (doing business as), include that name in the designated field.
  5. Select Your Entity Type: Check the box that corresponds to your entity type, such as Individual, Corporation, or Partnership.
  6. Provide Contact Information: Fill in your legal address, email address, and phone number. Ensure that this information is current and accurate.
  7. Indicate Exemptions (if applicable): If you are exempt from backup withholding or FATCA reporting, enter the appropriate exemption codes in the designated box.
  8. Sign and Date the Form: In the certification section, sign and date the form to confirm that the information provided is accurate and that you are not subject to backup withholding.
  9. Submit the Form: Send the completed W-9 form to the requester. This may be done via mail, email, or fax, depending on the requester's instructions.

Discover More on Virginia State W 9

  1. What is the purpose of the Virginia State W-9 form?

    The Virginia State W-9 form is used to provide your taxpayer identification number (TIN) to the requester. This form certifies that the TIN you provide is correct and that you are not subject to backup withholding. It is essential for reporting income to the IRS.

  2. Who needs to fill out the W-9 form?

    Individuals and entities that are required to provide a TIN to the requester must fill out the W-9 form. This includes U.S. citizens, resident aliens, corporations, partnerships, and other entities. Nonresident aliens and foreign entities should use different forms, such as W-8 or Form 8233.

  3. What information is required on the W-9 form?

    The W-9 form requires several pieces of information, including:

    • Your legal name
    • Your business name (if applicable)
    • Your TIN (either Social Security Number or Employer Identification Number)
    • Your address
    • Your contact information
  4. What is backup withholding?

    Backup withholding is a tax withholding requirement that may apply to certain payments made to you. If you do not provide your correct TIN or if the IRS notifies the requester that you are subject to backup withholding, a percentage of your payment may be withheld and sent to the IRS.

  5. How can I avoid backup withholding?

    You can avoid backup withholding by providing your correct TIN, certifying that you are not subject to backup withholding, and ensuring that you report all taxable interest and dividends on your tax return.

  6. What should I do if I do not have a TIN?

    If you do not have a TIN, you should apply for one immediately. For a Social Security Number, you can use Form SS-5. For an Employer Identification Number, use Form SS-4. If you are a resident alien without an SSN, you can apply for an Individual Taxpayer Identification Number (ITIN) using Form W-7.

  7. What are the penalties for not providing accurate information on the W-9 form?

    Penalties can apply if you fail to provide your correct TIN. The penalty for not furnishing a correct TIN is $50 for each failure. Additionally, if you make a false statement that results in no backup withholding, you may face a $500 civil penalty. Willful falsification of information may lead to criminal penalties.

  8. What is FATCA reporting?

    The Foreign Account Tax Compliance Act (FATCA) requires certain foreign financial institutions to report information about U.S. account holders. If you are exempt from FATCA reporting, you should indicate this on the W-9 form.

  9. How do I update my information on the W-9 form?

    You must provide updated information if your TIN or name changes, or if your status as an exempt payee changes. In such cases, submit a new W-9 form to the requester.

  10. Where should I send the completed W-9 form?

    Completed W-9 forms should be sent to the requester who asked for it. For Virginia state purposes, you may send it to the Commonwealth Vendor Group at Post Office Box 1971, Richmond, VA 23218-1971.

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