Old Dominion News

Virginia collected $4.1 billion in individual income taxes during the third quarter of 2021, a 7.9 percent increase over the same period the previous year, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

In the third quarter of 2020, $3.8 billion was collected.

Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest and income from intangibles.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by state governments.

Overall, Virginia collected $8 billion in combined tax revenues in the third quarter of 2021.

Type of Tax	Amount (in millions of dollars)
Property Taxes	$1
Sales and Gross Receipts Taxes	$2,819
License Taxes	$248
Income Taxes	$4,631
Other Taxes	$257