Manufacturers - Machinery and Tool Taxes
Manufacturers are not subject to the Business License Tax Your business may be required to register with the Internal Revenue Service, www.irs.gov, and the Department of Taxation, www.tax.virginia.gov, for the collection of payroll and sales taxes. If your business is as a contractor, beautician, realtor, or other occupation requiring a state regulatory license, please see the Department of Professional & Occupational Regulation, www.dpor.virginia.gov.
Machinery and Tools - $4.00/$100 value - Machinery and Tools is equipment used by a manufacturer directly in the production of goods. Returns are due no later than May 1 for equipment in use as of January 1 of a tax year. Machinery and Tools are valued at 25 percent of original cost of each item, including any associated freight, installation and finance costs.
Additional Fees associated with Business