Some Basic Tips about the State Laws

Category: Government Laws 27 0

Are you one of those who have moved to Virginia recently? Are you confused about the filing of tax returns in that state? If yes, there are some easy guidelines which you can follow. Read on to know more.

The tax rates in Virginia

To start with, one should always be aware of the rates for the tax in the state of Virginia and they can range anything from 2 to 5.75 % and are also classified into various groups.

If the person who is filing for tax returns is married or even single , they have to pay individual taxes as per the rates mentioned below.

  • percent for an income of $3,000
  • 3 percent for an income of $3,001-5,000
  • 5 percent for an income of $5,001-17,000
  • 75 percent for an income of $17,001 or more

Married couples too have to pay the prices at the same rate but the taxes they pay as per the income groups are doubled.

The Due dates

In most of the US states, the due date to file for your income tax returns is April 15th but the public of Virginia is given additional days to file for their returns and in most of the cases, this due date is extended till the 1st of May. Any further information about the filing of the returns, the guidelines, the forms needed and also the details about the due dates are mentioned on the official website of the state of Virginia.

Other taxes

  • The state levies the sales tax as well as use tax at about 4 %.
  • There can also be an additional local tax of 1% and this is entirely based on the purchases made.
  • The state also decreased its food tax by about 2.5 % and it now stands at 3.5%. There is also a promise of reduction by another 0.5% in the coming years.
  • There is no tax levied on inheritance as well as estate.

Any information about the above mentioned taxes can be found on the website and the information is updated and authentic.

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