Tax Rates

Manufacturers pay real estate, machinery and tools, truck and automobile, and utility taxes.
Non-manufacturers pay real estate, tangible personal property, truck and automobile, utility, and sales taxes. They also may pay either a merchants' capital or a license tax.

Local Tax Rates 

Essex Gloucester King & Queen
King William Mathews Middlesex

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


Unemployment Insurance Tax (new employers)

2.5% 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.