Taxes & Fees
Localities in Virginia collect a 1% sales tax. They do not tax other items taxed at the State level.
Manufacturers pay real estate, machinery and tools, truck and automobile, utility, and sales taxes.
Nonmanufacturers pay real estate, tangible personal property, truck and automobile, utility, and sales taxes. Nonmanufaturers also pay Business and Professional Occupation.
The following represents the County's 2012 tax rate information. For more information, please see: Commissioner of the Revenue»
| 2012 | Nominal Rate | Assessment Ratio |
|---|---|---|
| Business License |
$25 | N/A |
| Gross Receipts |
$2500 (threshold) |
N/A |
| Real Estate |
$0.53/100 |
100% |
| Machinery and Tools |
$2.50/100 |
20% first year and beyond |
| Personal Property: Vehicles |
$3.20/100 |
100% average trade-in NADA Book |
| Personal Property: Business Equipment |
$3.20/100 |
30% first year |
| $3.20/100 |
25% second year |
|
| $3.20/100 |
20% third year |
|
| $3.20/100 |
15% fourth year and beyond |
|
| Consumer Utilities: Telephone | 15% on first $10 |
N/A |
| Consumer Utilities: Electricity |
Maximum tax $10 | N/A |
Sales and Use Tax
- The total tax is 5 percent (4 percent state and 1 percent local).
- A seller is subject to a sales tax on gross receipts derived from retail sales or leases of taxable tangible personal property.
- Manufacturers do not pay tax on purchases used for production; distributors do not pay tax on items purchased for resale.
Virginia's Corporate Income Tax
Virginia's moderate corporate income tax has not been raised in more than thirty years. At 6 percent, our rate is one of the lowest in the nation. The combined state and local sales tax is 5.0 percent. Counties and cities are separate taxing entities. Consequently, companies pay taxes to either a county or a city, not to both. In some instances towns do assess local taxes which would be added to county taxes.
Virginia's Guide to Business Incentives»
If you have any questions please contact:
Nicole Thompson, Director of Economic Development
Telephone: 540 775-9181Fax: 540 775-5248
Email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
