
Individual Income Tax FilingVirginia Tax Form
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People also ask
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Does Virginia have an individual income tax?
Virginia has a graduated state individual income tax, with rates ranging from 2.00 percent to 5.75 percent. Virginia has a 6.0 percent corporate income tax rate.
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Who is exempt from Virginia income tax?
Age 65 or over: Each filer who is age 65 or over by January 1 may claim an additional exemption. When a married couple uses the Spouse Tax Adjustment, each spouse must claim his or her own age exemption. Blindness: Each filer who is considered blind for federal income tax purposes may claim an additional exemption.
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How much is federal income tax in Virginia?
Your Income Taxes Breakdown TaxMarginal Tax RateEffective Tax Rate Federal 24.00% 16.10% FICA 7.65% 7.65% State 5.75% 5.14% Local 0.00% 0.00%4 more rows • Jan 1, 2024
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Does Virginia have state income tax for retirees?
Yes. Any pension income you receive while you are a Virginia resident is taxable by Virginia, even though it may have been received from another state. However, federal legislation enacted January 1, 1996 prohibits any state from taxing pension payments made to a resident of another state.
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Am I required to file a Virginia tax return?
You must file an income tax return in Virginia if: you are a resident of Virginia, part-year resident, or a nonresident, and. you are required to file a federal income tax return, and.
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How much money do you have to make to file taxes in Virginia?
You must file if you are: Single and your VAGI (VA adjusted gross income) is $11,950 or more. Married filing jointly and your combined VAGI is $23,900 or more. Married filing separate and your VAGI is $11,950 or more.
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What state has no personal tax?
Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming do not levy state income taxes, while New Hampshire doesn't tax earned wages. States with no income tax often make up the lost revenue with other taxes or reduced services.
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Can I file Virginia taxes online?
Yes! Over 3.9 million Virginia taxpayers filed their tax return electronically last year. Electronic filing is more secure than mailing a tax return. An electronic return is encrypted and cannot be read as it is being transmitted from your computer.
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