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Taxes in Lake Barcroft, VA
In Lake Barcroft, Virginia, the local sales tax rate is 1%, which is the standard rate across the state. The state sales tax rate for Virginia is 4.3%. Additionally, there is a county sales tax rate of 1% in Fairfax County, where Lake Barcroft is located. Therefore, the total sales tax rate in Lake Barcroft is 6.3% when combining all these rates.
As for corporate taxes, Virginia has a flat corporate income tax rate of 6% that applies to all businesses in the state, including those in Lake Barcroft. The state does not impose a gross receipts tax. However, some localities may impose a Business, Professional and Occupational License tax (BPOL tax), which is a type of gross receipts tax. The rate varies depending on the type of business and its gross receipts.
Regarding property taxes, in Fairfax County where Lake Barcroft is situated, the commercial and industrial property tax rates are typically the same as the residential property tax rate. As of now, the rate is $1.15 per $100 of assessed value. Personal property taxes, which include taxes on vehicles and business tangible property, are also levied in Lake Barcroft. The tax rate for personal property is $4.57 per $100 of assessed value.
More comprehensive tax data for Lake Barcroft is coming soon!
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Business and Tax Incentives in Lake Barcroft, VA
Lake Barcroft offers a variety of economic incentives to help businesses at the local, state, and federal level.
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Reviews
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FAQs about Lake Barcroft, VA
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