Pursuant to §58.1-400.1 of the Code of Virginia, telecommunications companies are subject to a minimum tax instead of a corporate income tax if the corporate income tax imposed by §58.1-400 of the Code of Virginia is less than the minimum tax.

Every tax year the Commission certifies the name, address, and gross receipts of each telecommunications company to the Department of Taxation. Each company is notified of its certification.

A Statement of Gross Receipts is included as the last section of the Telecommunications Companies Annual Tax Report.