Site Selection – Tax Comparisons

State Tax Rates

Corporate Income Tax 6% (Last increase 1972)
Personal Income 2% – 5.75%
Retail Sales 6% (5% State; 1% Local)

Local Tax Rates

Real Estate Tax $1.04 (non-mosquito controlled) and
$1.05 (mosquito controlled) per $100 of 100% assessed value
Automobiles/Trucks/
Trailers/Motorcycles		 $4.08 per hundred of the assessed value
Recreation Vehicles
(Motor Homes/Camping Trailers)		 $1.58 per hundred of the assessed value
Aircraft $0.58 per hundred of the assessed value
Boats $0.09 per hundred of the assessed value
Business Property
(Furniture, Fixtures & Equipment)		 $4.08 per hundred of the assessed value
Machinery & Tools
(Manufacturers)		 $3.20 per hundred of the assessed value

 Business License Tax

Retailers $0.20 per $100 of gross receipts
Mail Order Firms $0.20 per $100 of gross receipts
Wholesalers & Distributors $0.12 per $100 of gross receipts
Financial Services $0.58 per $100 of gross receipts
Business Services $0.36 per $100 of gross receipts

View Daily Tax Rates

Utilities

Gas Service (Commercial $4.00/meter + $0.155/CCF; $112.50 & Industrial) maximum per month
Electric Service (Commercial) $2.87/meter + $0.0171/kWH; $112.50 maximum per month
Electric Service (Industrial) $2.87/meter + $0.0251/kWH; $112.50 maximum per month
Phone 5% Virginia Communications Sales Tax including long distance
Water None

Workers Compensation Comparisons

Virginia’s unemployment insurance tax is calculated using an employer’s past unemployment experience, known as the employer’s experience rating, and using the State’s unemployment compensation experience.

Unemployment Insurance Comparisons

Rates vary by industry and occupation, but Virginia’s manufacturers pay the lowest workers compensation rates in the country.