If at least 2/3 of your gross income is a result of self-employment as a farmer, fisherman or merchant seaman, choose Yes in the Virginia return Basic Information section (Qualifying Farmer or Fisherman).
You will not owe an addition to tax if each payment is made on time and:
- you owe $150 or less in tax with your return.
- total withholding and timely estimated payments were at least 90% (66 2/3% for farmers, fishermen and merchant seamen) of your 2022 tax liability after nonrefundable credits or 100% of your 2021 tax liability after nonrefundable credits.
- you meet one of the exceptions computed on Form 760C or Form 760F. Enclose Form 760C or 760F showing the computation.