Virginia

What's New



By the Numbers

Personal Income Tax Features (2015)
Range of Tax Rates 2.0% - 5.75%
Standard Deduction
  • $3,000 ($6,000 for Married Couples)
  • Personal Exemption $930
    Dependent Exemption $930
    Earned Income Tax Credit (EITC) 20% Nonrefundable
  • Offers low-income credit designed to offset personal income taxes
  • Corporate Income Tax Features (2015)
    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 (2015)
    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
  • State sales tax includes 1% statewide local tax
  • Vendor Compensation available without ceiling
  • Sales tax holiday offered in 2014
  • Property Tax Features (2015)
  • Does not provide a meaningful homestead exemption or circuit breaker for non-elderly taxpayers.
  • Levies a car tax with partial exemption funded by state.
  • Other Tax & Revenue Features (2015)
    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