Virginia (VA) – 2022

Virginia Effective 1/1/2022 Federal Effective 7/24/2009

Minimum WageVirginiaFederal
Minimum Wage$11.00$7.25
Minimum Cash Wage (Tipped Employee)$2.13
Maximum Tip Credit$8.87
Youth Minimum Wage$4.25
State Income TaxVirginiaFederal
Wage WithholdingTables
Supplemental Wage / Bonus Rate5.75%
Unemployment InsuranceVirginiaFederal
Maximum 2021 Taxable Earnings (Unchanged from 2020)$8,000
Employee 2021 DeductionNone
Employer 2021 Tax Rates(Includes 0.20% fund building charge and 0.03% pool cost charge)0.33 – 6.43%
Standard 2021 New Employer Rate (Includes 0.20% fund building charge)2.73%
Voluntary Contribution PermittedNo

Federal (FED) – 2022

Minimum WageFederal
Minimum Wage$7.25
Medicare Rate1.45%
Additional Medicare Tax Withholding on Wages > $200,000 (No Employer Match)2.35%
Maximum Taxable EarningsNo Limit
Maximum Taxable Earnings (Increased from $142,800 in 2021)$147,000
Employee / Employer Tax Rate (Unchanged from 2019)6.20%
Health Savings AccountsFederal
Catch-up Contribution Limit (Employee / Employer) (Unchanged from 2021)$1,000
Pension PlansFederal
Catch-up Contribution Limit – 401(k) & 403(b) plans (age 50 or older) (Increase from 6,000 in 2019)$6,500
Contribution Limit – 401(k) & 403(b) plans (Increased from $19,500 in 2021)$20,500

Virginia State Resources

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You can download some of the most common tax related forms here.