iCalculator™ US: West Virginia Tax Calculators
Welcome to iCalculator™ US, your comprehensive suite of free tax calculators for West Virginia. iCalculator™ has provided free tax calculators for West Virginia since 2014. Since those early days we have extended our resources for West Virginia to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. View all tax calculators and tools in the West Virginia Tax Hub or use the West Virginia Tax Calculator for 2024 (2025 Tax Return).
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West Virginia Tax Calculator 2024/25
The West Virginia Tax Calculator is for the 2024 tax year which means you can use it for estimating your 2025 tax return in West Virginia, the calculator allows you to calculate income tax and payroll taxes and deductions in West Virginia. This includes calculations for
- Employees in West Virginia to calculate their annual salary after tax.
- Employers to calculate their cost of employment for their employees in West Virginia.
The West Virginia Tax Calculator for 2024 encompasses a comprehensive suite of features to cater to your tax calculation needs. Key features include detailed calculations for Federal Income Tax based on the latest tax tables and allowances, FICA contributions covering both Social Security and Medicare, and automatic calculations for the Earned Income Tax Credit (EITC). Additionally, it allows for the consideration of retirement plan contributions, including 401(k), 403(b), SARSEP, and 457 plans, as well as SIMPLE plans, with specific limits for 2024. The calculator also supports Schedule A (Form 1040) for Federal Itemized Deductions, local tax calculations, and the inclusion of additional taxes or deductions.
For those seeking a deeper understanding and more detailed information on these features, including how they apply to your individual tax situation, it's recommended to view the comprehensive instructional overview here. This additional resource provides extensive insights into each feature, ensuring you can maximize your tax deductions and credits effectively for the 2024 tax year.
Discover West Virginia, United States
West Virginia, located in the Appalachian region of the Southern United States, is characterized by its mountainous terrain. It is bordered by Pennsylvania to the north, Maryland to the northeast, Virginia to the southeast, Kentucky to the southwest, and Ohio to the northwest. West Virginia's unique geography has played a significant role in its history and culture. Learn more about West Virginia's neighbors: Pennsylvania, Maryland, Virginia, Kentucky, and Ohio.
West Virginia's culture is deeply influenced by its Appalachian heritage, which is reflected in its music, folklore, and cuisine. The state's history is closely tied to the coal mining industry, which has shaped its communities and way of life. West Virginia is also known for its scenic beauty, with numerous state parks, forests, and outdoor recreational areas that attract visitors for activities like hiking, skiing, and whitewater rafting.
The economy of West Virginia has traditionally been dominated by coal mining, but in recent years it has diversified into various sectors. The state still plays a significant role in America's energy sector, particularly in coal and natural gas production. Besides energy, West Virginia's economy is bolstered by industries such as chemicals, biotechnology, aerospace, automotive, and tourism.
The healthcare and education sectors are also key contributors to the state's economy, with several major hospitals and universities offering employment and driving innovation. West Virginia's natural beauty and rich cultural heritage make tourism an important economic driver, with the state's parks and outdoor activities attracting visitors year-round. Despite facing economic challenges, West Virginia is working towards economic diversification and growth in various sectors.
Overview of Taxation in West Virginia, United States
In the United States, taxation occurs at both federal and state levels. This overview focuses on the state taxation system in West Virginia, outlining the various state tax types and compliance requirements, without detailing specific tax rates.
State Taxes in West Virginia
West Virginia's tax system encompasses a range of taxes affecting individuals, businesses, and transactions. Understanding these taxes is important for compliance and effective financial management within the state.
1. Income Tax
West Virginia imposes a personal income tax on its residents. The state uses a progressive tax structure, with rates that increase as income rises. Understanding tax brackets is crucial for residents for accurate tax filing.
2. Sales Tax
The state levies a sales tax on the purchase of most goods and services. West Virginia's sales tax rate includes a state portion, and local jurisdictions may add additional taxes. Certain items may be exempt or taxed at a different rate.
3. Property Tax
Property tax in West Virginia is administered at the local level. These taxes, based on property assessments, are a key revenue source for local governments, funding public services such as education and infrastructure.
4. Corporate Income Tax
Businesses in West Virginia are subject to corporate income tax. This tax is based on the income earned by corporations operating within the state. Compliance with corporate tax regulations is essential for business operations.
Compliance and Reporting
Compliance with West Virginia's tax laws involves understanding the filing requirements and deadlines for each type of tax. Accurate reporting and timely payment are critical to avoid penalties and interest. The state provides resources to assist individuals and businesses in understanding their tax obligations and in the filing process.