New state, local tax laws taking effect July 1

virginia map

(© niroworld – stock.adobe.com)

A number of new state and local tax laws will take effect on July 1, including changes to taxes on tobacco products, as well as the retail sales and use tax in one locality.

Here are some of the coming changes:

Cigarette and Tobacco Products Tax Increase: Beginning July 1, the tax rate doubles for cigarettes and other tobacco products currently subject to the tax. The tax on a pack of cigarettes increases from 30 cents to 60 cents per pack.

Liquid Nicotine Subject to Tobacco Products Tax: The new tax rate for liquid nicotine products is 6.6 cents per milliliter on sales or purchases on or after July 1.

Halifax County Local Tax Increase: Beginning July 1, a new 1% retail sales and use tax raises the tax rate in Halifax County to 6.3%. This includes the 4.3% state tax, the 1% local option tax and the 1% Halifax additional tax.

The increased sales and use tax increase does not apply to food purchased for human consumption, such as groceries, or essential personal hygiene products as both are taxed at a reduced rate.

Retail Sales and Use Tax Exemption for Gun Safes: As of July 1, gun safes with a selling price of $1,500 or less per item are exempt from the retail sales and use tax.

This exemption includes a gun safe or vault that is:

  • Commercially available;
  • Secured with a digital or dial combination locking mechanism or biometric locking mechanism; and
  • Designed for the storage of a firearm or for ammunition.

Glass-faced cabinets are not eligible for this exemption.

For a complete list of the new 2020 state and local tax laws, view the Virginia Tax 2020 Legislative Summary.

         
 

UVA Basketball Fans!

uva basketball team of destiny
Team of Destiny: Inside Virginia Basketball’s Run to the 2019 National Championship, by Jerry Ratcliffe and Chris Graham, is available for $25. The book, with additional reporting by Zach Pereles, Scott Ratcliffe, and Scott German, will take you from the aftermath of the stunning first-round loss to UMBC in 2018 through to the thrilling overtime win over Texas Tech to win the 2019 national title, the first in school history.

Dick Vitale on Team of Destiny: “This is a hoops story you will LOVE! Jerry and Chris capture the sensational and dramatic championship journey by Tony Bennett and his tenacious Cavalier team. UVA was Awesome Baby and so is this book!”

Ralph Sampson on Team of Destiny: “Jerry and Chris have lived and seen it all, even before my time. I highly recommend this book to every basketball fan across the globe. This story translates to all who know defeat and how to overcome it!”

Feedback from buyers: “Got the Book in the Mail Saturday, and could not put it down! Great read and great photography as well! Love all of the books I’ve received, but hands down, this is my favorite!” – Russell

Buy here.


augusta free press news
augusta free press news
augusta free press news


Comments