Virginia individual income tax
Virginia enforces an individual income tax on the earnings of both residents and nonresidents in the state. This tax is derived from the individual's federal-adjusted gross income and features rates between 2% and 5.75%.
May 1
Return due in 2023
5.75%
Top marginal tax rate
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Pay income tax online
Visit the official state government’s website to pay individual income tax online.
Visit VirginiaTax
What is Virginia income tax?
Individual income tax
Individual income tax is a type of direct tax levied by Virginia on individuals that meet the taxable criteria.
Taxable incomes
Virginia taxes incomes from wages, dividends, interests and capital gains.
Tax brackets
Virginia has 4 individual income tax brackets from 2% to 5.75%.
Standard deduction
Standard deduction is $8,000 for single filers and $16,000 for joint filers for the year 2022.
Personal exemption
Personal exemption is $930 for each filer. It also gives an additional +$800 for elders above the age of 65 and blind taxpayers.
2022 tax rates
The following is the list of income tax rates for the tax year of 2022
| Virginia taxable income | Tax rate |
|---|---|
| $0 - $3,000 | 2% |
| $3,001 - $5,000 | 3% |
| $5,001 - $17,000 | 5% |
| $17,001 + | 5.75% |
Individual income tax
The State of Virginia requires you to pay taxes if you are a resident (regardless of the whether they were earned within the state or not) or a non-resident that earns income from Virginia
Types of taxable incomes
The income types on which tax is levied are:
In Virginia, all types of income are generally subject to personal income tax unless they are specifically exempt by state law. This includes, but is not limited to, wages and salary, dividends, capital gains, royalties, and other types of income.
File return
To file a tax return in Virginia, taxpayers must complete and submit a tax return form. The tax return form requires taxpayers to report their taxable income and any credits or deductions they are eligible to claim. Taxpayers must also calculate their tax liability and pay any taxes owed by the due date.
You are eligible for an automatic extension in filing, if you have already paid taxes. New deadline will be Nov 1, 2023.
Due
quarterly or annually
Pay taxes
Taxes in Virginia are due by 18 April, 2023. Go to the official Virginia Department of Revenue website.
The deadline for payment of taxes in Virginia is May 1, 2023.
If your tax liability after withholding is more than $150, you are required to make estimated tax payments, quarterly.
Estimated taxes are to be made quarterly in instalments by the 15th of April, June, September, and January.
Type of tax
graduated tax
Due
quarterly or annually
Deductions
Tax deductions are a reduction in the amount of income that is subject to taxation. It allows taxpayers to lower the amount of taxable income they have, which in turn reduces the amount of tax they owe. Tax deductions are available for a wide range of expenses, such as charitable donations, mortgage interest, medical expenses, and business expenses.
Standard deduction is $8,000 for single filers and $16,000 for joint filers for the year 2022.
Credits
A tax credit allows taxpayers to reduce the amount of taxes they are required to pay. This is different from a tax deduction, which reduces the amount of income that is subject to taxation. Tax credits are applied directly to the tax liability, while deductions are applied to the taxable income.
Exclusions
Tax exclusions are an amount of money or income that is not subject to taxation. This means that taxpayers do not have to pay taxes on this income.
Residency
Residency in Virginia refers to an individual's permanent home or place of residence in the state.
Virginia resident
A Virginia resident is someone who is domiciled in Virginia, or who maintains a permanent place of residence in the state for more than 183 days in a year.
Virginia part-year resident
A Virginia Part-Year Resident is someone who moved into or out of the state during the tax year.
Income earned while the individual was a resident of Virginia is subject to state taxes.
Virginia non-resident
A Virginia Nonresident is someone who does not have a permanent residence in the state.
Nonresidents who receive income from Virginia sources are required to pay Virginia taxes. This includes income from Virginia properties and personal services performed in the state.
Frequently asked questions
Business entities in Virginia
There are several business entities in Virginia
Virginia LLC
Page sponsorWhy we like StartGlobal?
My genuine thoughts
Willy Justin
Founder, Statepedia
StartGlobal: Legal + Taxes + Bookkeeping for solopreneurs
Product
For small businesses, managing taxes, accounting and everything legal is just a pain. Nobody wants to do it, but they have to. Instead of working with CPAs, attorneys and others separately, Start brings all of them under a single subscription. It’s just smooth.
Team
I know the team behind StartGlobal very well. It’s a very hardworking group of individuals who are genuinely passionate about small businesses. They are backed by successful founders like Balaji Srinivasan, Biz Stone(Twitter) and others.
Price
Getting a CPA or attorney is a matter of thousands of dollars. It’s just unfair to pay so much when you’re a small business. Start has a single subscription that covers it all. It is a definite money saver.
$599 one-time