Virginia Paycheck Calculator
Calculate your take-home pay per paycheck for salary and hourly jobs after federal & Virginia taxes
Updated for 2024 tax year on Jul 06, 2024
Calculate your paycheck in these states
How to calculate your Virginia paycheck
Table of Contents
Overview of Virginia
Virginia has a population of over 8.5 million (2019). The state is known as the nation’s birthplace since it was the first permanent English settlement site.
Brief summary:
- the income tax rate ranges from 2% to 5.75%
- no state-level payroll tax
- has standard deductions and exemptions
Understanding your Virginia paycheck
Understanding your paycheck is crucial, regardless of whether you’re starting a new job in Virginia or have been employed for years. This guide seeks to demystify the process, diving into various aspects such as the W-4 form, pre-tax and post-tax deductions, and more. With a mix of complex and straightforward sentences, let’s unravel the complexities of your Virginia paycheck.
Your paycheck starts with your gross pay, the total amount you’ve earned before deductions. However, multiple components will reduce this figure, resulting in your final net pay. Let’s explore these elements and learn where your hard-earned money goes.
A key component of your paycheck is the federal income tax withheld, determined using theW-4 form you provide to your employer. This vital document helps calculate the proper withholding based on your filing status, income, dependents, and additional income or deductions. Periodically updating your W-4 is important, particularly after significant life events, such as getting married or having a child, to ensure the correct amount of tax is withheld.
Virginia, like other states, imposes a state income tax. The Commonwealth employs a progressive tax system, meaning that as your income increases, so does the tax rate. You’ll only pay the higher tax rate on the portion of your income that surpasses specific thresholds.
In addition to income taxes, your paycheck will include payroll taxes, commonly called FICA taxes. Employees and employers jointly contribute to these vital programs.
In addition to taxes, several deductions may apply to your paycheck. Pre-tax deductions, such as contributions to retirement plans and Health Savings Accounts (HSAs), reduce your taxable income. As a result, you may save on taxes while investing in your future.
Post-tax deductions, conversely, occur after calculating your taxable income. These deductions can encompass union dues, charitable donations, and wage garnishments. Since each situation is unique, staying informed about the specific deductions that apply to you is crucial.
After accounting for all deductions, you’ll receive your take-home pay. Regularly reviewing your pay stubs ensures the accuracy of deductions and helps you grasp the impact of financial decisions on your take-home pay.
To optimize your tax situation, consider contributing to tax-advantaged accounts like 401(k) plans and HSAs. These pre-tax contributions lower your taxable income, potentially saving on taxes and bolstering your financial future.
Calculate your Virginia paycheck
Calculating your Virginia state income tax is similar to the steps we listed on our main paycheck calculator page:
- Determine your gross income
- Annual salary
Annual salary = Gross income - Hourly wage
Hourly wage × Hours worked per day × Days worked per week × Weeks worked per year = Your weekly paycheck
- Annual salary
- Work out your total federal income tax
- Gross income adjusted
Gross income − Pre-tax deductions = Gross income adjusted - Federal taxable income
Gross income adjusted − Federal standard/itemized deductions = Federal taxable income - Federal income tax liability
Federal taxable income × Federal income tax rate = Federal income tax liability - Federal payroll tax liability
Gross income × Federal payroll tax rate = Federal payroll tax liability
- Gross income adjusted
- Calculate your total Virginia state income tax
- Virginia state taxable income
Gross income adjusted − (Virginia state standard/itemized deductions + Virginia state exemptions) = Virginia state taxable income - Virginia state income tax liability
Virginia state taxable income × Virginia state income tax rate = Virginia state income tax liability
- Virginia state taxable income
- Figure out your net pay
You need to account for any other deductions such as health insurance, 401(k) contribution, as well as additional withholdings.
Gross income − (Total income tax liability + Total payroll tax liability + Total pre-tax deductions + Total post-tax deductions + Total withholdings) = Your net pay - Divide your net pay by your pay frequency
- Daily
Your net pay / Days worked per week / Weeks worked per year = Your daily paycheck - Weekly
Your net pay / 52 = Your weekly paycheck - Bi-weekly
Your net pay / 26 = Your bi-weekly paycheck - Semi-monthly
Your net pay / 24 = Your semi-monthly paycheck - Monthly
Your net pay / 12 = Your monthly paycheck - Quarterly
Your net pay / 4 = Your quarterly paycheck - Semi-annual
Your net pay / 2 = Your semi-annual paycheck - Annual
Your net pay = Your annual paycheck
- Daily
State income tax brackets
Refer to Tax Foundation for more details.
| Tax year | Filing status | Taxable income | Rate |
|---|---|---|---|
| 2024 2023 2022 2021 2020 |
Single Married, Filing Jointly or Widow(er) Married, Filing Separately Head of Household |
$0 – $3,000 | 2% |
| $3,000 – $5,000 | 3% | ||
| $5,000 – $17,000 | 5% | ||
| $17,000+ | 5.75% |
State standard deduction
| Tax year | Filing status | Standard deduction amount |
|---|---|---|
| 2024 2023 2022 |
Single Married, Filing Separately Head of Household |
$8,000 |
| Married, Filing Jointly | $16,000 | |
| 2021 2020 |
Single Married, Filing Separately Head of Household |
$4,500 |
| Married, Filing Jointly | $9,000 |
State exemptions
There are state-level exemptions for all types of filers and dependents. Refer to Tax Foundation for more details.
| Tax year | Filing status | Personal exemption amount |
|---|---|---|
| 2024 2023 2022 2021 2020 |
Single Married, Filing Separately Head of Household |
$930 |
| Married, Filing Jointly or Widow(er) | $1,860 | |
| Dependent(s) | $930 |
FAQs
How to calculate take home pay in Virginia?
Follow the steps below to work out your take-home pay:
- Determine your gross income
- Work out your total federal income tax
- Calculate your total Virginia state income tax
- Gross income minus taxes, deductions and withholdings
- Divide your net pay by your pay frequency
How much will Virginia tax paychecks in 2024?
Virginia imposes state income taxes that range from 2% for lower incomes to 5.75% for higher earnings.
How much is taken out of my paycheck in Virginia?
It's impossible to know the exact amount without understanding your situation. As a start, federal income tax, Virginia state income tax, Social Security and Medicare will be withheld from each paycheck. Your chosen benefits will also reduce your take-home pay.
What percentage of my paycheck goes to taxes in Virginia?
In Virginia, approximately 20% to 35% of your paycheck may go to taxes. The taxes on your paycheck include
- federal income tax (10% to 37%)
- state income tax (2% to 5.75%)
- Social Security (6.2%)
- Medicare (1.45% to 2.35%)