Pursuant to §58.1-2660 of the Code of Virginia, a special regulatory revenue tax based on gross receipts is levied on the following Public Service Corporations:

• Telecommunications Companies - Annual Tax Report/Statement of Gross Receipts
• Water Companies - Annual Tax Report/Statement of Gross Receipts
• Railroads* - Railroad Special Tax Form
• Motor Vehicle Carriers - Statement of Gross Transportation Receipts
• Virginia Pilots' Association - Virginia Pilots Association Special Tax Form

These annual reports are due on April 15th. For telecommunications and water companies, a Statement of Gross Receipts is included as the last section of the Annual Tax Report.

The Division of Public Service Taxation mails tax bills by May 15th annually, and the special regulatory tax payments are due June 1st. Pursuant to §58.1-2611 of the Code of Virginia , failure to pay by the due date results in a 10% penalty.

*Note: With the exception of the special regulatory revenue tax, all other assessment and taxation of railroad companies is administered by the Department of Taxation.