Virginia Tax Table 2017

June 11, 2018

As the calendar turns to the start of 2017, Virginia residents must begin to think about their taxes. With the implementation of the new Tax Cuts and Jobs Act, individuals and businesses alike must be aware of the changes that will affect their filing status. One of the most important documents to understand is the Virginia Tax Table 2017. This table outlines the income tax for the year, and it is essential for Virginia residents to understand the changes that will affect their filing status and total tax rate.

Completing tax forms can be a daunting task, and the Virginia Tax Table 2017 is no exception. It is important to understand the individual components of the table and how they will affect your return. The table outlines the income tax brackets for 2017, as well as any changes or exemptions that may apply. Additionally, it provides guidance on deductions and credits that can be taken to reduce taxable income. Understanding the table and its implications can help Virginians save money when filing for the 2017 tax year.

The Virginia Tax Table 2017 is divided into four sections: personal income tax, corporate income tax, sales and use tax, and miscellaneous taxes. Each of these sections provides information specific to that area of taxation. For personal income tax, the table outlines the taxable income brackets, as well as the associated tax rates. It also provides information on deductions, credits, and exemptions that can be taken to reduce taxable income. For corporate income tax, the table outlines the different tax rates that apply to each type of corporation. Additionally, it provides guidance on deductions and credits that can be taken to reduce taxable income.

The sales and use tax section of the Virginia Tax Table 2017 outlines the different types of taxes applicable to individuals and businesses. It also includes a list of exempt items that are not subject to sales and use taxes. Finally, the miscellaneous taxes section contains information on the various taxes that are imposed in the Commonwealth of Virginia, including the severance tax, estate tax, and motor vehicle sales tax.

In addition to the Virginia Tax Table 2017, there are other resources available to help Virginians make the most of their tax returns. The Virginia Department of Taxation website provides a wealth of information on the various taxes that are applicable in the state. Additionally, there are online tax preparation services and software programs that can help make filing taxes easier. Additionally, there are professional tax preparers that can provide assistance with filing taxes.

Ultimately, understanding the Virginia Tax Table 2017 can help Virginians save money when filing their taxes. By familiarizing themselves with the table and its implications, individuals can maximize their deductions and credits to reduce their taxable income, as well as take advantage of any exemptions that may apply. With the right resources, Virginians can make the most out of their 2017 tax return.

Tax Laws In Virginia Chamberlin