Investor Presentaiton
When to Submit Application
Submit Forms, REIT-1, REIT-2, and REIT-3 by January 31st
of the year after the taxable year in which the income was
earned. Form REIT-1 must be submitted first or at the same
time as Forms REIT-2 and REIT-3. All 3 forms must be
submitted before investors may claim the subtraction on
their income tax returns.
Where to Submit Application
Submit forms and enclosures to Virginia Department of
Taxation, Tax Credit Unit, P.O. Box 715, Richmond, VA
23218-0715 or fax it to (804) 774-3902. Do not do both.
What to Expect from the Department
After Form REIT-1 is Submitted (Step 1)
The Department will review the form to determine if the fund
meets the qualifications of a Virginia REIT. If the application
is approved, you will receive a registration letter for the trust.
If the trust does not meet the qualifications, you will receive
a denial letter.
Important: A registration letter is not a guarantee that the
fund meets the certification requirements that are reviewed
in Step 2 of the application process.
After Form REIT-2 is Submitted (Step 2)
The Department will determine whether the trust has met the
certification requirements. If the trust qualifies, a certification
letter will be issued to confirm that the trust is a Virginia REIT
for purposes of the income tax subtraction. The certification
is valid for 1 year.
Where to Get Help
Visit the Department's website, www.tax.virginia.gov, for
guidelines regarding the Virginia Real Estate Investment
Trust Subtraction, most Virginia tax forms, and tax
information. You may also write to Department of Taxation,
Tax Credit Unit, P.O. Box 715, Richmond, VA 23218-0715
or call (804) 786-2992View entire presentation