Virginia Paycheck Calculator - SmartAsset (2024)

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Use SmartAsset's paycheck calculator to calculate your take home pay per paycheck for both salary and hourly jobs after taking into account federal, state, and local taxes.

Virginia Paycheck Calculator - SmartAsset (1)

Overview of Virginia Taxes

Virginia has a progressive state income tax system with four tax brackets that range from 2% to 5.75%. The bracket you fall into will depend on your income level. Since the highest rate applies to income over $17,000, most Virginia taxpayers will find themselves paying the top rate, at least partially. Filing status does not affect state income taxes in Virginia, and no cities in the state levy local income taxes.

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Pre-Tax Deductions

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Tax Exemptions

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Type

Salary (per year)

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Hourly Wage

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Hours (per pay period)

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You can't withhold more than your earnings. Please adjust your .

Your estimated -- take home pay:

$--

Where is your money going?

Gross Paycheck $--
Taxes --% $--
Details
Federal Income --% $--
State Income --% $--
Local Income --% $--
FICA and State Insurance Taxes --% $--
Details
Social Security --% $--
Medicare --% $--
State Disability Insurance Tax --% $--
State Unemployment Insurance Tax --% $--
State Family Leave Insurance Tax --% $--
State Workers Compensation Insurance Tax --% $--
Pre-Tax Deductions --% $--
Details
Post-Tax Deductions --% $--
Details
Take Home Salary --% $--

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Virginia Paycheck Calculator

Virginia Paycheck Calculator - SmartAsset (7)

Virginia Paycheck Quick Facts

  • Virginia income tax rate: 2% - 5.75%
  • Median household income: $87,249 (U.S. Census Bureau)
  • Number of cities that have local income taxes: 0

How Your Virginia Paycheck Works

As in all other states, Virginia employers must withhold FICA taxes from their employee’s paychecks. FICA taxes consist of Social Security and Medicare taxes. Social Security withholding is 6.2% of your income, while Medicare withholding is 1.45% of your income each pay period. Your employer will match these percentages so that the total FICA contribution is double what you pay. If you're a single filer who earns a salary in excess of $200,000, wages over that amount are subject to a 0.9% Medicare surtax. For joint filers, this surtax applies to income above $250,000, while married people filing separately will see it added for any income above $125,000.

In some instances, you might assume the responsibility of paying 100% of your FICA taxes instead of the usual 50%. This is the case with self-employed taxpayers. Since these types of workers do not have the luxury of having an employer to contribute half of their FICA taxes, they must cover all of these taxes alone. However, there is a deduction available during tax season so that self-employed workers can recoup some of the “employer” portion of their FICA taxes.

Virginia employers also withhold money for federal income taxes. How much you pay will depend on various factors, including your salary, marital status and whether you have any dependents. Remember that whenever you start new employment or you undergo major life changes, like getting married or having a child, you will need to fill out a new Form W-4.

The IRS has recently made revisions to the Form W-4. The new version no longer lets you claim allowances, as it instead features a five-step process that asks you to enter annual dollar amounts for any additional income or jobs, as well as things like non-wage income, income tax credits, itemized and other deductions and total annual taxable wages.

Keep in mind that your paycheck frequency also plays a role in your cash flow each month. More frequent but smaller paychecks may mean you budget a bit differently than if you get fewer, larger paychecks.

Virginia Median Household Income

YearMedian Household Income
2022$87,249
2021$80,268
2020$82,214
2019$81,313
2018$77,151
2017$70,811
2016$66,451
2015$61,486
2014$66,155
2013$65,907
2012$64,632

Like most states, Virginia also collects a state income tax. Taxpayers fall into one of four income brackets, depending on income level. The top tax rate of 5.75% applies to taxable income over $17,000, so most taxpayers will be paying that rate on at least some of their income. Virginia's income tax brackets apply to all residents regardless of filing status.

If you are looking to buy a home in Virginia or if you want to refinance a mortgage on a home you already own, make sure to check out our Virginia mortgage guide for important information on rates and details about getting a mortgage in the Old Dominion.

Income Tax Brackets

  • All Filers
All Filers
Virginia Taxable IncomeRate
$0 - $3,0002.00%
$3,000 - $5,0003.00%
$5,000 - $17,0005.00%
$17,000+5.75%

A financial advisor can help you understand how taxes fit into your overall financial goals. Finding a financial advisor doesn't have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

How You Can Affect Your Virginia Paycheck

There's a simple way to have an impact your Virginia paycheck. For one, you can elect to set up an additional dollar withholding from each of your paychecks to go toward taxes. Yes, your paychecks will be smaller now, but it’s easier to avoid underpaying and it may increase your chances of getting a tax refund in April. At the very least, it'll make it less likely that you’ll face a big bill.

Do you have health and life insurance for you and your family through an employer-sponsored plan? Any premiums you pay for those are deducted from your paycheck. The same goes for your contributions to a retirement plan like a 401(k) or 403(b) via your company. Additionally, the money you put toward these retirement plans is subtracted from your wages before taxes are applied. This lowers your taxable income and you may owe less in taxes as a result.

Virginia Top Income Tax Rate

YearTop Income Tax Rate
20235.75%
20225.75%
20215.75%
20205.75%
20195.75%
20185.75%
20175.75%
20165.75%
20155.75%
20145.75%
20135.75%
Virginia Paycheck Calculator - SmartAsset (2024)
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