TAX INFORMATION
Compare state and local tax rates, business license taxes, and utility taxes in Chesapeake, Virginia.
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*(*Assessed at 20% of the original cost) |
Machinery & Tools(Manufacturers) |
$3.20 per hundred of the assessed value*(*Assessed at 20% of the original cost) |
BUSINESS LICENSE TAX RATES
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 |
UTILITIES TAX RATES
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.