Virginia

Virginia State Income Tax

If you are a resident of Virginia and you accumulated more than $11,950 in income as a single tax payer then you will be required to file a Virginia state income tax return. For those married filing jointly, if you made over $23,900 then that’s the point where you’ll have to file a Virginia state income tax return. residents and non-residents are subject to these same requirements. If you have to file then you should know that your return will be due on May 1st.

Tax Rates

The state of Virginia has both a sales tax and income tax and the income tax rate brackets look like this:

$0 – $3,000 – 2%
$3,000 – $5,000 – 3%
$5,000 – $17,000 – 5%
$17,000+ – 5.75%

Those are the brackets used for both single tax payers and those filing joint returns. Single tax payers can take a standard deduction of $3,000, and those filing jointly can take a standard deduction of $6,000. There is a personal exemption of $930 for single tax payers and $1,860 for those filing jointly. You can also take a personal exemption of $930 for any dependents.

Virginia implements a sales tax of 4% on most goods besides prescription and non-prescription drugs. In addition to the 4%, there is a statewide local tax of 1%. Food purchased as groceries for the home is taxed at 1.5%. The gasoline excise tax is a moderate 19.8 cents per gallon and diesel fuel is taxed at 20.1 cents per gallon. The cigarette excise tax in this southern state is a mere 30 cents per pack.

Property taxes in Virginia are figured by the cities, counties, and towns and it’s based on 100% of the fair market value of the property.
There is no inheritance tax and there is no longer an estate tax. If you need to know where and how to get the right tax forms then you should refer to our tax forms page.