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
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