The Virginia tax rate table is the calculation taxpayers use to figure out which of the four tax brackets they fall into and how much tax they owe the state. Virginia tax rates are based on adjustable gross income. If a taxpayer's adjustable gross income is below the filing threshold of $11,950 for single or married filing separately, or $23,900 for married filing jointly, the tax owed is zero, states the Virginia Department of Taxation.
As of August 2014, for filers with a taxable income of zero to $3,000, the tax rate is 2 percent. A taxable income of $3,001 to $5,000 is a rate of $60 plus 3 percent of the income over $3,000. For filers with a table income of $5,001 to $17,000, the tax rate is $120 plus 5 percent of the income over $5,000. The final income bracket, for filers who have taxable income of more than $17,000, is $720 plus 5.75 percent of income over $17,000, according to the Virginia Department of Taxation.
Taxpayers can download the Virginia tax rate table from the state Department of Taxation website. This table tells the exact amount they owe for each income level. Alternatively, taxpayers can use the calculator on the website to compute their Virginia tax amount, reports the Virginia Department of Taxation.