Ten Small Cities to Start a Business in 2023
Are you starting a new business? Have you thought about where you would like to start a business? Learn more about the best small cities to start a business.
Trying to keep up with your state’s withholding requirements? Here are the latest resources on Virginia state taxes for 2016.
Trying to keep up with your state’s withholding requirements? Here are the latest resources on Virginia state taxes for 2016.Withholding Requirements:
• Register as an employer by completing form R-1 or online by clicking here.
• Employee's Income Tax Withholding Exemption Certificate: Form VA-4.
Withholding Method = formula.
• Supplemental Rate = Withhold at 5.75% of the total.
Local Taxes: None.
State Unemployment Insurance (SUI): Benefit ratio formula.
Wage base is $8,000 for 2016.
Rates range from 0.1% to 6.27% (includes 0.07% pool cost charge)
.
New employers use 2.57% (includes 0.07% pool cost charge) in 2016.Foreign contractors doing business in VA use 6.54% in 2016.
State Disability Insurance (SDI): None.
State Labor Laws:
Minimum Wage -The federal minimum wage rate applies – $7.25.
Termination Pay - Fired/Quit - next regular payday.
Employers must report hiring, rehiring, and return to work within 20 days on Virginia New Hire Reporting form to:Virginia New Hire Reporting Center
P.O. Box 3757 Dublin, Oh 43016
Phone: 800-979-9014
Fax: 800-688-2680
To report online click here.
Remit Withholding for Child Support to: Division of Support Enforcement Department of Social Services
P.O. Box 570 Richmond, VA 23218-0570
Phone: 800-468-8894To report online click here.
Reciprocal States: Kentucky, Maryland, Pennsylvania, Washington DC, West Virginia. For paycheck calculations, visit PaycheckCity.
Other helpful links: Virginia Department of Taxation
Virginia Employment Commission
Are you starting a new business? Have you thought about where you would like to start a business? Learn more about the best small cities to start a business.
Your filing status is perhaps the most important piece of information when it comes to tax withholding. Learn which filing status applies to you.
How often should you submit a new W-4? What is your filing status? In this article, we break down some of the most common W-4 questions.