* - Town BPOL Tax has a Minimum levy of $50 and a Maximum
|Local Tax||Patrick County||Town of Stuart|
|REAL ESTATE||$0.73 per $100 FMV||$0.172 per $100 FMV|
|PERSONAL PROPERTY||$1.71 per $100 FMV||$0.33 per $100 FMV|
|MACHINERY & TOOL||$1.71 per $100 FMV||$0.33 per $100 FMV|
|Repairs, Personal and all other Classes not listed||NONE||$.18 per $100 FMV|
|BPOL - Retail *||NONE||$0.10 per $100 receipts|
|BPOL - Professional *||NONE||$0.29 per $100 receipts|
|BPOL - Contractors *||NONE||$0.08 per $100 receipts|
|BPOL - Wholesale *||NONE||$0.05 per $100 receipts|
VA COMMUNICATIONS TAX** (Utility Taxes - Electricity, Telephone)
|TAX TYPE||Patrick County||Town of Stuart|
|UTILITY TAX - Water||NONE||NONE|
|UTILITY TAX - Gas||NONE||NONE|
|VEHICLE LICENSE TAX - Automobiles||$25||$25|
|VEHICLE LICENSE TAX - Motorcycles||$15||$15|
|VEHICLE LICENSE TAX - Trucks||$25||$25|
|RESTAURANT MEAL TAX||4%||4%|
|TRANSIENT OCCUPANCY TAX||5% of Charged Room Rate||NONE|
* Town BPOL Tax has a Minimum Levy of $30.
** - As of 1/1/07 the law was changed to a Virginia Communications Tax 5% of the billed amount note this is charged on the telephone account the funds go to the Department of Taxation, Patrick County receives a percentage amount back from the State -- the percentage is less than the 5%.
Virginia localities are authorized to levy taxes on real property, including land and buildings. All assessments shall be 100 percent of fair market value.
A tax may be levied on the tangible personal property of businesses and individuals. This category includes such items as motor vehicles, business furniture and equipment, and motorized vehicles such as boats and campers.
Machinery & Tools
Under the Code of Virginia, machinery and tools are segregated for local taxation. The rate of taxation may be no higher than that imposed on other classes of tangible personal property.
Utility Consumer's Tax
Localities may impose a tax on the consumers of public utilities. The consumer tax is issued on a residential and/or commercial/industrial basis.
Business, Profession and Occupational License Tax
Localities which do not levy tax on merchants' capital are authorized to impose a local tax on businesses, trades, professions, and occupations. Patrick County has chosen not to levy such a tax. However, the Town of Stuart does impose this tax within the Town limits.
Motor Vehicle License Taxes
Localities may impose a license tax on motor vehicles, trailers, and semi-trailers, not to exceed that imposed by the state.
Restaurant/Meal Tax; Transient Occupancy Tax
Localities may levy meal taxes and transient occupancy taxes. A Prepared Food and Beverage Tax was adopted by the Patrick County Board of Supervisors February 10, 2020 with an effective date of April 1, 2020. The amount of County tax on Prepared Food and Beverages is 4%. The transient occupancy tax is 5% of the charge for overnight stay for any transient to any hotel. Hotel includes public or private hotel, bed & breakfast, inn, hostelry, tourist home or house, tourist camp, tourist cabin, camping grounds, motel, rooming house or other lodging place offered for lodging for compensation.
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, and the state has not raised its income tax rate since 1972. In addition, the General Assembly has kept Virginia's taxes on industry competitive by enacting one of the best corporate income tax laws in the nation by eliminating tax irritants.
Taxes on Manufacturers
The information that follows outlines the major state taxes paid by manufacturers. Corporate Income Tax is six percent of federal taxable income, with modifications, if applicable. If a multi-state corporation's income is taxed by both Virginia and other states, Virginia permits it to allocate and apportion its income so that it does not pay a tax on the entire amount. Dividends received from companies in which the taxpayer owns 50 percent or more of the voting stock are not taxable in Virginia. In addition, Virginia statutorily rejects unitary taxation by specifically excluding foreign source income from taxation and by specifically prohibiting worldwide combination.
Sales and Use Tax
Five percent (four percent imposed by the state; one percent imposed by localities) Manufacturers receive broad tax exemptions, including all items purchased for use or consumption directly in an integrated manufacturing process. Additionally, certified pollution control facilities and equipment used principally for pollution abatement are exempt.