Good news for Virginia shoppers: the Commonwealth's sales tax holiday is back to its regular August slot for 2024. This means you can once again enjoy a weekend of tax-free shopping, just in time for back-to-school preparations and other essentials.
This comes after a hiccup last year when lawmakers allowed the tax holiday to lapse and held it later than usual. As a result, Virginia shoppers had to wait until October to enjoy tax-free purchases. Thankfully, 2024 sees the event returning to its familiar schedule — now through this weekend.
Virginia tax-free weekend 2024
The Virginia sales tax holiday runs from Friday, August 2, through Sunday, August 4. During these three days, you can buy a range of qualifying items without paying Virginia sales tax, which when combined with local tax, can reach 7% in some areas.
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Here's a quick rundown of what qualifies for the tax break:
- School Supplies: Items like notebooks, pens, and other school essentials priced at $20 or less per item are tax-free.
- Clothing and Footwear: Apparel items priced at $100 or less per piece qualify for the tax exemption.
Hurricane and Emergency Preparedness Products are also included in Virginia’s tax-free weekend. This includes items like portable generators (up to $1,000), gas-powered chainsaws (up to $350), chainsaw accessories (up to $60), and other specified hurricane preparedness items (up to $60).
And don’t forget about Energy Star™ and WaterSense™ Products: Energy-efficient appliances and water-saving products for home use, up to $2,500 per item, are also tax-free.
As the event approaches, make sure to check out the Virginia Department of Taxation's guidelines to see the full list of qualifying items and any specific rules. Being prepared will help you make the most of this tax-free weekend.
Other Virginia tax relief: Standard deduction
In addition to the annual sales tax holiday, it’s worth noting that Virginia has introduced another tax relief measure that could benefit residents. The Commonwealth’s budget for 2024 and 2025 includes a temporary increase in the standard deduction.
- For joint filers, the Virginia standard deduction will rise to $17,000, up from $16,000.
- Virginian’s standard deduction for single filers will increase by $500, from $8,000 to $8,500.
This temporary change applies to the 2024 tax year (state tax returns you’ll file in early 2025). Lawmakers have indicated extending the increased standard deduction is possible if Virginia’s revenue goals are met. However, it's important to note that this involves the state-level standard deduction, not the federal standard deduction.
And while that's good news for many Virginia residents, keep in mind that Virginia implemented a gas tax increase to 30.8 cents per gallon from 29.8 cents as of July 1 of this year. While that's not as steep as some other states that increased gas taxes this summer, the tax hike still contributes to the overall cost of driving a vehicle in the Commonwealth.
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