VA. and W.Va. Sales Tax Holiday begins today 8/5
Virginia and West Virginia Sales Tax Holiday begins today Fri. Aug 5 lasting through Aug. 7 in Virginia and Aug. 8 in West Virginia.
Certain school supplies that cost $20 or less per item will be Virginia and West Virginia sales tax free during the holiday.
Some clothing and footwear priced at $100 or less will also be included in the holiday as well.
A number of emergency preparedness items are also sales tax free in Virginia as well.
Visit tax.virginia.gov for details on the annual Virginia Tax free holiday.
Visit tax.wv.gov for more information on West Virginia’s tax free days.
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Virginia ends fiscal year with nearly $2 billion surplus
Governor Glenn Youngkin announced Virginia ended the 2022 fiscal year with a $1.94 billion general fund revenue surplus.
This is a 16.3% rise on total revenue collections on a year-to-date basis.
The surplus is one of the highest in the state history, just below 2021 at $2.3 billion.
This growth well exceeded the forecast of 8.5% growth.
69% of the state’s revenue came from payroll withholding and sales tax collections.
In a statement, Youngkin claimed this surplus supports his belief that Virginians are overtaxed.
He also highlighted economic growth in the state with companies like Boeing, LEGO, and Raytheon relocating their headquarters to the Commonwealth.
A full breakdown of all final revenue sources will be released on August 19th.
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