Tax Rates

Virginia

Tax Item
Tax Percentage
Corporate Income
6%
State and City Retail Sales and Use 6%
State and City Meals Tax 6.5%

Suffolk

Tax Item Tax Fee
Real Estate, City-Wide
$1.07 per $100 Assessed Value
Real Estate, Rout 17 Taxing District $1.31 per $100 Assessed Value
Real Estate, Downtown Business District $1.175 per $100 Assessed Value
Business Property $4.25 per $100 (Based on 20% of Original Cost)
Machinery and Tools $3.15 per $100 (Of Original Cost)
Machinery and Tools: 1-5 Years Old at 20%
Effective Rate of $0.63/$100
Machinery and Tools: 5 Plus Years Old at 10% Effective Rate of $0.315/$100

Business License (For Gross Receipts Greater Than $100,000)

License Type
Tax Fee
Retail
$0.20/$100
Wholesale $0.09/$100
Manufacturing Exempt