Purpose Of Form 760C
Virginia law
requires that you pay your income tax in timely installments throughout the
year by having income tax withheld or making payments of estimated tax. If you
do not pay at least 90% of your tax in this manner, you may be charged an
addition to tax. Use Form 760C to determine whether you met the minimum payment
requirement and/or whether you are subject to an addition to tax charge.
You may also need to
use this form to demonstrate that you have not made an underpayment, or that
you have met an exception that voids the addition to tax, particularly if your
income did not remain constant throughout the year. See the instructions for Line
5 for more information.
I hope this answered
you question if any other question i can refer you to this link: www.virginia.gov
