Form 500EC 2022 Virginia Electric Cooperative 
Virginia Department of Taxation
P.O. Box 1500 Modified Net Income Tax Return *VAECOP122888*
Richmond, VA 23218-1500
FISCAL year filer or SHORT year filer: ENTER beginning date ___________ , 2022, and ending date __________, _______ , and CHECK HERE
FEIN Check if –
  Mailing Address Change
Name   Amended Return 
Enter reason code: _________
Mailing Address   Final Return 
(No longer liable for tax)
City or Town State ZIP Code

Date Incorporated State and Country of Incorporation Description of Business Activity NAICS Code

1. Total revenue from electricity sales in Virginia ....................................................................................................... 1. .00
2. Total revenue from electricity sales to members in Virginia .................................................................................... 2. .00
3. Revenue from electricity sales to nonmembers in Virginia (Subtract Line 2 from Line 1) ...................................... 3. .00
4. Nonmember share of ordinary and necessary expenses (From Line 22 or Line 25) ............................................. 4. .00
5. Modified net income (Subtract Line 4 from Line 3) ................................................................................................. 5. .00
6. Tax (6% of Line 5)................................................................................................................................................... 6. .00
7. Tax credits (Enter the sum of Section 2, Line 1B and Section 4, Line 1A from Schedule 500CR – see instructions) ......... 7. .00
8. Modified net income tax (Subtract Line 7 from Line 6). Also, enter on Line 5 of Schedule 500MT ........................ 8. .00
8a. Tax amount (Enter the amount from Line 12, Schedule 500MT ) ........................................................................... 8a. .00
9. Payments: (a) 2022 estimated Virginia tax payments. ......................................................................................... 9a. .00
(b) Extension payment and other payments ....................................................................................... 9b. .00
Total payments and credits [Add Lines 9a and 9b] ........................................................................................... 9. .00
10. Tax due (Subtract Line 9 from Line 8a) .................................................................................................................. 10. .00
11. Penalty (see instructions) ....................................................................................................................................... 11. .00
12. Interest (see instructions) ....................................................................................................................................... 12. .00
13. Additional charge (Enclose Form 500C)................................................................................................................. 13. .00
14. Total due (Add Lines 10 through 13). Enclose Form 500V with payment or, if paid by EFT, check this ..............     box: 14. .00
15. Overpayment (If Line 9 is larger than Line 8a, subtract Line 8a from 9 and enter the overpayment) .................... 15. .00
16. Amount of the overpayment on Line 15 to be credited to 2023 estimated tax ....................................................... 16. .00
17. Amount to be refunded (Subtract Line 16 from Line 15) ........................................................................................ 17. .00
Nonmember Ordinary and Necessary Expenses – Use Either Method 1 or Method 2.
Method 1
18. Expenses entirely attributable to electricity sales to nonmembers in Virginia. (Enclose schedule) ....................... 18. .00
19. Other expenses not entirely attributable to electricity sales to either members or nonmembers in Virginia ............... 19. .00
Nonmember Sales
20. Nonmember ratio of electric sales: Total Sales ............................................................................. 20. %
21. Amount of other expenses allocated to electricity sales to nonmembers in Virginia. (Line 19 times Line 20).............. 21. .00
22. Nonmember share of expenses: (Line 18 plus Line 21). Enter here and on Line 4 ............................................... 22. .00
Method 2
Nonmember Sales
23. Nonmember ratio of electric sales: Total Sales ............................................................................. 23. %
24. Total expenses attributed to All electricity sales in Virginia ..................................................................................... 24. .00
25. Nonmember share of expenses: (Multiply Line 23 by Line 24). Enter here and on Line 4 ..................................... 25. .00
Mail this return to the Virginia Department of Taxation, P.O. Box 1500, Richmond, Virginia 23218-1500 on or before the 15th day of the 4th month following the close 
of the taxable year. Make checks payable to the Virginia Department of Taxation.
I, the undersigned president, vice-president, treasurer, assistant treasurer, chief accounting officer, or other officer duly authorized to act on behalf of the cooperative for which 
this return is made, declare under the penalties provided by law that this return (including any accompanying schedules and statements) has been examined by me and is, to the 
best of my knowledge and belief, a true, correct, and complete return, made in good faith, for the taxable year stated, pursuant to the income tax laws of the Commonwealth of 
Virginia. If this return was prepared by a person other than the taxpayer, this declaration is based on all information of which such person has any knowledge.
Rev. 07/22
Date Signature of Officer Title

Printed Name of Officer Phone Number
2601092-W 
Print Preparer’s Name and Firm Name Phone Number

Date Individual or Firm, Signature of Preparer Address of Preparer

Preparers FEIN, PTIN, or SSN Approved Vendor Code
Va. Dept. of Taxation