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your destination, as well as the time you are there.
• Pack wisely.
And most of all, don't try to fit so many things into the schedule that you end up saying “I need a vacation to recover from my vacation.” Vacation’s are a time to take it easy. Remember, and eiyoy.
Tax withholding
decreases July 1
Beginning July 1, employers will be withholding less State income tax from employee paychecks, announced Tax Commissioner William H. Forst.
Last month, the Department of Taxation issued new withholding tables to employers throughout the State. The new tables are necessary because the amount of state taxes withheld after July 1 will decrease for most employees. The decrease is due to the Tax Reform Legislation passed by the 1987 General Assembly, who made significant changes in the personal exemption, standard deduction and top tax bracket.
Some employees, in fact, Mill no longer have any tax liability. Under the Virginia Tax Reform Act of 1987, the filing threshold was raised from a flate $3,000 of Virginia adjusted gross income to $5,000 for single persons and $8,000 for married couples. People whose annual income is below these threshold amounts Mill not need to pay State income tax. It is estimated that up to 450,000 taxpayers will not need to pay Virginia income tax because of this change.
Employees who are affected by the new filing threshold can file a new Withholding Exemption Certificate, Form VA-4, with their employers to prevent further income tax withholding for the remainder of the year. The Tax Department has revised Form VA-4 by combining the old VA-4A (for claiming exemption from withholding). Employees not affected by the change in the filing threshold do not need to file another VA-4.
The Department of Taxation requires employers to maintain a separate list of the names and social security number of all employees who claim exemption from Mrithholding. Employers can obtain new VA-4 Forms from the Department of Taxation by calling (804) 257-8055.
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