Virginia
What's New
-
blog
November 13, 2018Three Tax Takeaways on Amazon’s Expansion Announcement
Today Amazon announced major expansions in New York and Virginia, where it intends to hire up to 50,000 full-time employees. The announcement marks the culmination of a highly publicized search…
-
ITEP Work in Action
October 19, 2018WVTF: Study: State Taxes Have Disproportionate Impact On Lower Income Virginians
Virginians who make the least amount of money pay 40 percent more taxes as a percent of their income than the wealthiest Virginians. That’s according to a new report from…
-
ITEP Work in Action
October 17, 2018The Half Sheet: Virginia’s Tax System Is Upside Down
Virginia’s state and local taxes help to shape economic opportunity across the state. That’s because state and local revenues pay for the building blocks of thriving communities: schools, roads, libraries,…
-
blog
October 2, 2018Twelve States Offer Profitable Tax Shelter to Private School Voucher Donors; IRS Proposal Could Fix This
A proposed IRS regulation would eliminate a tax shelter for private school donors in twelve states by making a commonsense improvement to the federal tax deduction for charitable gifts. For… -
ITEP Work in Action
June 4, 2018The Commonwealth Institute: On Federal Tax Changes, Virginia Should Continue to Conform
Although some filers would pay more in state taxes under conformity, many of the highest-income filers – the top one percent – will receive large state tax cuts. This is… -
blog
May 22, 2018Most States Have Raised Gas Taxes in Recent Years
State tax policy can be a contentious topic, but in recent years there has been a remarkable level of agreement on one tax in particular: the gasoline tax. Increasingly, state…
-
ITEP Work in Action
December 20, 2017The Commonwealth Institute: Dream Act Would Boost Virginia Families, Communities, State Economy, and Tax Revenues; Revoking DACA Hurts All
There are 30,000 young immigrants who were potentially eligible for DACA and call Virginia home. They currently contribute a total of $29.3 million to local and state taxes annually through… -
blog
December 14, 2017Private Schools Donors Likely to Win Big from Expanded Loophole in Tax Bill
For years, private schools around the country have been making an unusual pitch to prospective donors: give us your money, and you’ll get so many state and federal tax breaks… -
report
December 14, 2017Tax Bill Would Increase Abuse of Charitable Giving Deduction, with Private K-12 Schools as the Biggest Winners
In its rush to pass a major rewrite of the tax code before year’s end, Congress appears likely to enact a “tax reform” that creates, or expands, a significant number…
Related Resources
ITEP Publications about Virginia
Reports about Virginia using ITEP data
All items referencing Virginia
By the Numbers
| Personal Income Tax Features | |
|---|---|
| Range of Tax Rates | 2.0% - 5.75% |
| Standard Deduction |
|
| Personal Exemption | $930 |
| Dependent Exemption | $930 |
| Earned Income Tax Credit (EITC) | 20% Nonrefundable |
|
|
|
| Corporate Income Tax Features | |
|---|---|
| Range of Tax Rates | N/A |
| Income Level at Which Top Rate Applies | N/A |
| Combined Reporting | 6.00% |
| Apportionment Factor (Payroll) | All |
| Apportionment Factor (Property) | No |
| Apportionment Factor (Sales) | 25% |
| Sales Tax Features | |
|---|---|
| State Sales Tax Rate | 4.30% |
| Average Local Sales Tax Rate | 0.30% |
| Average Combined State & Local Sales Tax Rate | 5.60% |
| State Sales Tax Treatment of Groceries | 1.5% |
| Local Sales Tax Treatment of Groceries | Taxed at 1.0% statewide local rate |
| Number of Services Taxed | 18 out of 168 surveyed (2007) |
| Streamlined Sales Tax Membership | No |
|
|
|
| Property Tax Features | |
|---|---|
|
|
| Other Tax & Revenue Features | |
|---|---|
| Gasoline Tax Rate (per gallon) | $0.224 |
| Diesel Tax Rate (per gallon) | $0.261 |
| Cigarette Tax Rate (per pack) | $0.30 |
| Estate or Inheritance Tax | No |
| Net Lottery Sales Per Capita | $169 (2010) |
| Tax Policy Oversight | |
|---|---|
| Tax Expenditure Report | Yes, but excludes at least one major tax |
| Tax Incidence Analysis Capability | Personal income tax only |
Last updated January 13, 2015
RESOURCES
State Tax & Revenue Information
- Virginia Department of Taxation
- Center for Economic and Policy Studies (University of Virginia)
- Virginia General Assembly - Legislative Information System - State Budget
Tax Expenditure Reports
- Virginia Retail Sales and Use Tax Expenditure Study
- A Drop in the Bucket? (Unofficial report from the Commonwealth Institute)