Virginia’s calendar has two distinctive features CPAs must get right: individuals file by May 1, not April 15, and pass-through entities file in April, not on the federal March deadline. Virginia also grants generous automatic extensions with no form required.
Virginia Tax Deadlines at a Glance (2026)
Entity Type | Return Due | Extended Due Date |
|---|---|---|
Individuals | May 1, 2026 | November 1, 2026 (6-month, automatic) |
C Corporations (Form 500) | April 15, 2026 | November 15, 2026 (7-month) |
S Corps / Partnerships (Form 502) | April 15, 2026 | October 15, 2026 (6-month) |
The single most important correction: Form 502 pass-through returns are due April 15, 2026 — the 15th day of the 4th month — not the federal March 16. Extension runs to October 15. And Virginia C corporations extend to November 15 (a 7-month automatic extension), not October 15. Virginia’s individual May 1 deadline is correct and unusual — a common surprise for new-to-Virginia filers.
Automatic Extensions, No Form Needed
Virginia grants automatic extensions to all filers with no application: six months for individuals (to November 1) and pass-throughs (to October 15), seven months for corporations (to November 15). Each extends time to file only — individuals must pay in full by May 1, and corporations and pass-throughs must pay at least 90% of the final liability by the original date to avoid the extension penalty.
The Elective PTET Is Now Permanent
Virginia’s elective pass-through entity tax lets partnerships and S corporations pay a 5.75% entity-level tax (Form 502PTET) so owners receive a refundable credit. Originally set to expire after 2025, the sunset was removed by 2026 legislation — the PTET is now permanent and available for 2026 and beyond. Estimated PTET payments have been required since 2023.
Rates, Estimates, and Penalties
Virginia’s corporate income tax rate is 6%. The individual income tax tops out at 5.75% (on income over $17,000). Individual estimated payments follow an unusual schedule matching the May 1 filing date: May 1, June 15, September 15, and January 15. Late-filing and late-payment penalties run 6% per month (maximum 30%); the extension penalty is 2% per month; interest is the federal underpayment rate plus 2%.
CPA Action Steps
File individual returns by May 1, not April 15
File Form 502 pass-through returns in April, not on the federal March date
Extend C-corps to November 15 (7-month)
Use the now-permanent 5.75% PTET where it benefits owners
Verify current rates and dates against the Virginia Department of Taxation (tax.virginia.gov) before filing.