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State sees historic 66.2% General Fund revenue increase in May
Northam taps new secretary of finance upon Layne's departure
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The state’s General Fund revenue rose 66.2% in May 2021 compared with May 2020, Gov. Ralph Northam announced Friday, the largest increase in more than 50 years. He also announced
State litter tax rate, penalty increase go into effect May 1
Change is result of 2020 General Assembly session
Published
Rate increases and a large additional penalty for late payments for the state’s litter tax will go into effect for Virginian business owners on May 1. The changes, a result
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Va. General Fund revenue jumped 18.5% in March
Total revenue collections rose 9%
Published
Virginia’s General Fund revenue for March 2021 increased by 18.5% compared with March 2020, Gov. Ralph Northam announced Tuesday. Total revenue collections rose 9% through March on a fiscal year-to-date
Business groups ask Va. lawmakers for higher PPP tax deductions
House of Delegates, state Senate bills differ on amounts
Published
Virginia’s two legislative bodies have not yet agreed on an amount that Virginia businesses can deduct from federal Paycheck Protection Program loans they received last year, and how much of
Northam announces $730.2M state revenue forecast increase
Va. revenues to jump to $46.7B over next two years
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Gov. Ralph Northam’s revised budget released Monday shows that the commonwealth expects a $730.2 million increase in this year’s revenues forecast over December 2020, from $46 billion to more than
Va. General Fund revenue dropped 2.4% in January
Total revenue collections rose 6%, however
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Virginia’s General Fund revenue for January 2021 decreased 2.4% compared with January 2020, Gov. Ralph Northam announced Thursday. Total revenue collections rose 6% through January on a fiscal year-to-date basis,
2020 withholding records from employers due Feb. 1
Forms can be submitted electronically
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The commonwealth of Virginia’s Department of Taxation reminded employers/payers Wednesday that the final date to submit 2020 withholding records is Monday, Feb. 1. The final date to submit withholding records
Va. General Fund revenue increased 15.1% in December 2020
Increase driven by payroll withholding, corporate income tax, sales and use tax
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Virginia’s General Fund revenue for December 2020 increased 15.1% compared with December 2019, Gov. Ralph Northam announced Wednesday. Total revenue collections rose 7.8% through December on a fiscal year-to-date basis,
Northam orders companies held temporarily harmless for pandemic layoffs
Move protects businesses from paying $200M in payroll taxes to refill VEC trust
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Gov. Ralph Northam issued an executive order Tuesday that will hold Virginia businesses harmless for any layoffs made during three months of the pandemic. The end-of-year order protects businesses from
Ten Va. companies make 2021 Forbes list of top tax, accounting firms
450 companies across U.S. earned designation
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Ten Virginia-based companies made Forbes’ top tax and accounting firms list for 2021. Of 450 companies across the nation, 250 companies were awarded the America’s Best Tax Firm 2021 title