Taxes

State Taxes

Income

Income Tax Rate
Corporate income tax 6%
Franchise tax None
Personal income tax  
     First $3,000 2%
     $3,001-$5,000 3% + $60
   $5,001-$17,000 5% + $120
     $17,001+ 5.75% + $720

Sales/Use

State: 4.30% (+1.5% for groceries)
Local: 1.00% (+1% for groceries)
Total: 5.30% (2.5% for groceries)

Manufacturers do not pay tax on purchases used for production; distributors do not pay tax on items purchased for resale.

Employment

Unemployment Insurance (2015)

  • Wage base is $8,000
  • Rate vs. National Avg: 0.48% vs 0.72%
  • Tax per Employee: $209

Workers' Compensation Insurance (2013)

  • Varies by payroll and occupation
  • Virginia vs National average, per $100 payroll: $0.81 vs. $1.34

Source: Virginia Economic Development Partnership, Virginia Department of Taxation, All rates current as of June 2016

Local Taxes

Download all Local Business & Property Taxes

Download all Local Sales Taxes

Local taxes updated June 2016

Complete Tax Details

Community Profiles Commissioner of Revenue
Colonial Heights Manufacturers Non-Manufacturers Website
Hopewell Manufacturers Non-Manufacturers Website
Petersburg Manufacturers Non-Manufacturers Website
Chesterfield Manufacturers Non-Manufacturers Website
Dinwiddie Manufacturers Non-Manufacturers Website
Prince George Manufacturers Non-Manufacturers Website
Surry Manufacturers Non-Manufacturers Website
Sussex Manufacturers Non-Manufacturers Website

Profiles updated June 2016