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How Virginia Tax is Calculated Va Taxable IncomeTax Calculation0 - $3,0002%$3,001 - $5,000$60 + 3% of excess over $3,000$5,001 - $17,000$120 + 5% of excess over $5,000$17,001 -$720 + 5.75% of excess over $17,000
Sometimes individuals or even businesses agree to enter into a contract orally. These agreements are generally enforceable in Virginia as long as they contain the basic terms of a contract: offer, acceptance, and consideration.
In general, an employer who pays wages to one or more employees in Virginia is required to deduct and withhold state income tax from those wages. Since Virginia law substantially conforms to federal law, if federal law requires an employer to withhold tax from any payment, we also require Virginia withholding.
Virginia Payroll Tax Details AgencyNameFrequencyDepartment of TaxationEmployer's Annual or Final Summary of Virginia Income Tax Withheld Return (VA-6)AnnuallyWage and Tax Statement (W-2)AnnuallyEmployment Commission (VEC)Unemployment Insurance Tax PaymentQuarterlyEmployer's Quarterly Tax Report (VEC FC-20)Quarterly3 more rows
In general, an employer who pays wages to one or more employees in Virginia is required to deduct and withhold state income tax from those wages. Since Virginia law substantially conforms to federal law, if federal law requires an employer to withhold tax from any payment, we also require Virginia withholding.
Use the Tax Withholding Estimator on IRS.gov. The Tax Withholding Estimator works for most employees by helping them determine whether they need to give their employer a new Form W-4. They can use their results from the estimator to help fill out the form and adjust their income tax withholding.
Your federal income tax withholdings are based on your income and filing status. For 2022, the federal income tax brackets are 10%, 12%, 22%, 24%, 32%, 35%, and 37%. Regardless of your situation, you'll need to complete a W-4 and submit it to your employer.
Income Tax Brackets All FilersVirginia Taxable IncomeRate$3,000 - $5,0003.00%$5,000 - $17,0005.00%$17,000+5.75%1 more row