Virginia Tax FAQs

• taxmOuth Virginia Tax FAQs

Virginia Tax Forms

• taxmOuth Virginia Tax Forms

Virginia Corporate Taxes

• taxmOuth Virginia Corporate Taxes
• Virginia Tax Rates & Brackets:
  
  6%> $0
  
• Loss Carry-back/fwd: 2 Years Back / 20 Years Forward (Unlimited)
• Throwback Sales?: N
• Foreign Tax Deductible?: N
• Alternative Minimum Tax (AMT): N
• Gross Receipts Tax: N
• Capital Stock (Net Worth) Tax?: N

Virginia Tax Incentives and Credits

• taxmOuth Virginia Tax Credits
• Job Credits?: Y
• R&D Credits?: N
• Investment Credits?: N

Virginia Individual Income Taxes

• taxmOuth Virginia Individual Income Taxes
• Virginia tax rates and brackets:
  
  2%> $0
  3%> $3,000
  5%> $5,000
  5.75%> $17,000
  
• Local Option IT Rate: None
• Federal Inc used as Base?: Y
• Standard Deductions: Single $3,000 / Joint $6,000
• Personal Exemptions/Credits (c): Single $930 / Joint $1,860 / Dependent $930
• Federal Tax Deductible?: N
• State Tax Deductible?: Y
• Alternative Minimum Tax (AMT)?: N

Virginia Estate, Gift and Inheritance Taxes

• taxmOuth Virginia Estate and Gift Taxes
• Gift Tax?: N
• Estate Tax?: Copies Federal
• Inheritance Tax?: N
• Generation-Skipping Tax?: N

Virginia Miscellaneous Taxes

• taxmOuth Virginia Miscellaneous Taxes
• Gas Tax: 18.1 cents/gallon
• Diesel Tax: 19.6 cents/gallon
• Cigarette Tax: 30.0 cents/20 pack

Virginia Pass-through Tax Treatment

• taxmOuth Virginia Pass-through Entity Tax
• LLC Pass-through Recognized?: Partial
• S-Corp Pass-through Recognized?: Y

Virginia Payroll Taxes

• taxmOuth Virginia Payroll Taxes
• Unemployment Insurance Tax Index (TaxFoundation.org): #44

Virginia Property Taxes

• taxmOuth Virginia Property Taxes
• Median Tax Paid on Homes (Rank): $1,854 (#22)
• Median Value of Homes: $269,600
• Tax as % of Home Value (Rank): 0.69% (#33)
• Median Income of Homeowner: $75,504
• Tax as % of Income (Rank): 2.46% (#28)

Virginia Sales and Use Taxes

• taxmOuth Virginia Sales and Use Taxes
• State Rate: 5.0%
• County & City (Weighted Ave): None
• Combined State and Ave. Local Rates (Rank): 5.0% (#43)
• General Treatment of Services: Exempt
• Gasoline: Exempt
• Groceries: Partial