Category Archives: Taxes

With Tax Revenue Exploding, Virginia Should Boost Standard Deduction, Index for Inflation

Posted on May 19, 2021 by Stephen D. Haner

One of the big financial winners with the May 1 Virginia minimum wage increase is the state itself, because the entire raise is subject to a 5 percent state income tax. With its low standard deduction and personal exemption amounts, … Continue reading →

Posted in Economy, Government Reform, State Government, Taxes | 1 Comment

Northam Tax Harvest Expands Again

Posted on May 12, 2021 by Stephen D. Haner

With the release yesterday of the April 2021 Virginia state revenue report, covering ten months of the fiscal year, a correction in an earlier report becomes necessary. Continue reading →

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Virginia Tax Structure Better for Mature Firms than for Start-ups

Posted on May 5, 2021 by Stephen D. Haner

Virginia is far more tax friendly to established businesses than it is to new ones. That is one major conclusion of a major state-by-state business tax comparison released Wednesday (here) by the Tax Foundation and KPMG LLC. In neighboring North … Continue reading →

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Northam Tax Hikes Squeeze Virginia Businesses and Individuals

Posted on May 4, 2021 by Stephen D. Haner

With Virginia’s fiscal year now three-quarters complete, and basically one year since the depths of the COVID-19 recession, state tax revenues are soaring. Despite reports that the boom results from the economic rebound, it remains clear that changes in tax … Continue reading →

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Fuel Tax and Caps Detailed in TCI Model Rule, Now Open for Public Comment

Posted on April 14, 2021 by Stephen D. Haner

Read the governing document for the Transportation and Climate Initiative and it becomes clear there is more going on than just an effort to reduce motor fuel use with a combination of taxes and shrinking caps. That may really be a secondary goal. Continue reading →

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