Virginia Taxes

Virginia Tax Guide

Virginia Income Tax

The state of Virginia has four different income slabs and different income tax rates levied for each. According to the Virginia tax guide, the following rates apply to single people as well as married people who file their returns separately.

  • 2 percent on taxable income of $3,000 
  • 3 percent on taxable income above $3,000 and  less than or equal to $5,000
  •  5 percent on taxable income above $5,000 and less than or equal to $17,000 
  • 5.75 percent on taxable income above $17,000

The married individuals file joint returns, the applicable rates are the same but the income slab doubles. So two per cent tax rate is applicable to the first $6,000 of joint income and so on.
The deadline for filing income tax returns is May 1st. All forms can be downloaded from the taxation department’s web site.

Virginia Sales Tax

Virginia taxes sales in the state at 4 percent. There is also a local tax of one percent added, which makes the local sales tax rate 5 percent.

In 2005, on July 1 to be precise, Virginia reduced the taxes on food to 1.5 percent. So the total food tax rate in the state is 1.5 per cent plus 1 per cent local tax that is 2.5 per cent.

There is another tax called use tax. This has to be paid by Virginia residents when they buy items which are not subject to sales tax and whose value is more than $100. This applies to online purchases, mail order purchases and also any purchases made by Virginian residents outside Virginia, which have not been taxed in the state of purchase.

Virginia Property Tax – Personal and Real Estate

According to the Virginia tax guide, the state does not levy any property tax. Counties and city corporations set their own tax rates and collect them. Local governments tax real estate based on market value. Different localities charge different rates. For personal property, tangible - furniture, automobiles, machinery and so on, the local government charges tax as a percentage of the actual cost. To pay this tax, form 762 needs to be filled and filed. The deadline is May 1.

Virginia Inheritance and Estate Taxes

Many years ago, Virginia collected estate tax in accordance with federal laws. Later, it formulated its own estate tax policy. But in 2007, the government decided that estates of people who died after July 1, 2007 will not be taxed. However, the income from the estate continues to be taxed and the tax is called fiduciary income tax.

According to the Virginia tax guide, there are no inheritance taxes.

Where to Mail FEDERAL IRS Tax Forms Within Virginia:

IRS Form If You ARE NOT Enclosing a Payment, Use This Address: If You ARE Enclosing Payment, Use This Address:
1040: Department of the Treasury
Internal Revenue Service
Kansas City, MO 64999-0002
Internal Revenue Service
P.O. Box 970011
St. Louis, MO 63197-0011
1040A: Department of the Treasury
Internal Revenue Service
Kansas City, MO 64999-0015
Internal Revenue Service
P.O. Box 970011
St. Louis, MO 63197-0011
1040EZ: Department of the Treasury
Internal Revenue Service
Kansas City, MO 64999-0014
Internal Revenue Service
P.O. Box 970011
St. Louis, MO 63197-0011

Virginia Tax Help

Virginia Individual Income Tax:
(804) 367-8031

Virginia Tax Forms:
804-440-2541

Collections:
804-367-8045