AMHERST COUNTY BUSINESS TAXES FY 2022-2023
Photo by Lee Luther Jr.
Local taxes in Amherst County are well below the national average, offering significant tax savings to companies and their employees.
Local taxes are paid each year to the County of Amherst, with very modest additional taxes paid if a business is located in the Town of Amherst. County taxes or the Town’s taxes are currently the only local taxes on businesses. There are no “special use district” taxes for fire protection, utilities, schools, etc.
Virginia State Tax Information
Did you know?
- Virginia’s corporate income tax has not been raised in forty years? At 6 percent, our rate is one of the lowest in the nation
- In Virginia, a manufacturer’s inventory, furniture, fixtures, and corporate aircraft are not taxed, nor does a manufacturer pay a business license tax on gross receipts when the sales are at wholesale and occur at the place of manufacture.
- Manufacturing companies also receive broad exemptions from state and local sales and use taxes on purchases used directly in production and in research and development.
Nationally recognized for its conservative fiscal practices, Virginia has one of the fairest and most stable tax structures of the 50 states.Both businesses and individuals carry their share of the tax load. The General Assembly has kept taxes on industry competitive and has eliminated many tax irritants. Virginia also offers a very modest local tax bill for industry. Items taxed at the state level are not taxed at the local level, with the exception of sales and use tax; and Virginia taxes new and existing industries equally.