Location Benefits

Taxes

 

Local Taxes

 

Business, Professional and Occupational License Tax*

Category	Rate per $100 of Gross Receipts
Contractors	$0.16
Professionals	$0.58
Retail Merchants	$0.20
Services	$0.36
Wholesale Merchants	$0.05 (per $100 gross purchases)

 

Tax Rates

Description	Rate
Business Personal Property*	$4 / $100 assessed value
Real Estate	$0.77 / $100	100% assessed value
Prepared Food	4.00%
Transient Occupancy	5.00%
Hotel/Motel Room Surcharge	$2.00	per room night

 

• Establishments that serve alcohol beverages have additional fees based on the consumption and sale of liquor.
• Motor vehicles for personal use are subject to partial personal property tax relief from the state.
• For detailed local tax information, please visit or contact the James City County Commissioner of Revenue.

*James City County defines business personal property to include all equipment, furniture, fixtures, books, appliances, tools, office equipment, cash registers, and any other item used in pursuit of business.

 

State Taxes

 

Corporate Income Tax - 6 percent

• The corporate income tax rate is applied to the computed Virginia Income.
• Multi-state corporations in Virginia pay tax only on the portion of its income from Virginia sources.

 

Sales and Use Tax - 5 percent

• Sales and use tax is charged on consumer goods bought in the State of Virginia; a reduced rate of 2.5% is charged on food for home consumption
• One-percent of sales tax is return to locality.