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Category Archives: Taxes
Steps Virginia Must Take to Tax Internet Sales
Conformity to recent federal income tax changes is not the only challenge (or opportunity, depending on your point of view) facing the 2019 Virginia General Assembly. It may also be asked to amend Virginia’s sales and use tax rules, so … Continue reading
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Federal Tax Cuts Should Spur Real Tax Reform in VA
A new battle is brewing here in Virginia. Most Virginians aren’t aware of this, but we need to be because it affects our taxes, our income and the ability of our economy to grow and put more money in our … Continue reading
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Full Conformity Raises $3.6B In First Five Years
Assuming the Virginia General Assembly conforms the state’s tax rules to the IRS code as it exists now, adopting intact the recent federal changes, the state will reap an additional $3.6 billion in revenue over the next five years. Almost … Continue reading
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What the 2018 Tax Cuts Mean for Virginia
How will the tax cuts from the 2018 Tax Cuts and Jobs Act impact Virginia households? The results vary considerably by income bracket, according to a tax calculator published by the Tax Foundation. Higher income households, making over $200,000 per year, will … Continue reading
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Tax Conformity Addendum: Has Virginia Already Conformed?
During a discussion today about the issue of whether and how Virginia should amend its taxes in response to recent federal changes, the question came up: just what is the situation today? I was reminded that the conformity bill that … Continue reading
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