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Virginia Department Of Revenue, Virginia Tax

Virginia Business Corporate Tax, Virginia Personal Income Tax, Virginia Sales Tax Rates

What is the Virginia Corporate net income tax rate?


What are the Virginia personal net income tax rates?

0-3,000               2%
3,000-5,000       3%
5,000-17,000     5%
17,000 +              5.75%

What is the average Virginia sales tax rate?


Are there standard deductions?

Single:   $3,000
Joint:   $6,000

Are there personal exemptions?

Single:   $930
Dependants:   $930

What forms do you file for your Virginia taxes?

C corporations:   Form 500
S corporations:   Form 502
Partnerships:   Form 502
Individual:   Form 760

Estimated tax payments?

Form 760ES. Virginia follows the IRS standards for estimated payments. If you will owe $150 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. This is only on income that is not being withheld from a paycheck…as in dividends. It has to be at least 100% of the previous year, even if you think you won’t make as much in the current year.

Virginia corporations that will owe more than $1000 in tax must make estimated tax payments with form 500ES.

Virginia Department of Revenue:

Virginia Department of Taxation
P.O. Box 1115
Office of Customer Services
Richmond , VA 23218-1115
Telephone: 804-367-8037 or 804-254-6111

Department of Taxation Website

If you use Northwest Registered Agent as the Virginia non profit, you’ll have an online account to track your company in, receive notification reminders to file your annual reports on time, annual tax reminders, and new State information reminders. All for a low annual flat rate fee of $125 a year. We also help incorporate new businesses for only $100.

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