tax rates

Virginia Tax Rates

Corporate Income Tax

6% corporate income tax rate that has not been raised in forty years

Sales and Use Tax

4.3% state sales tax, 1% local sales tax

Individual Income Tax

The individual income tax rate is two percent on the first $3,000 of Virginia taxable income, three percent on the next $2,000, five percent on the next $12,000, and 5.75 percent on amounts over $17,000.

Intangible Personal Property Tax

0%

Unemployment Insurance Tax (new employers)

2.57% on the first $8,000


Note:  Virginia does not tax machinery & tools, business tangible property, or real estate at the state level. These are only imposed at the local level.