Virginia state income tax rates are progressive, with rates ranging from 2% to 5.75%. For an income of $118,000, the estimated state tax liability would be approximately $5,800 to $6,500, depending on deductions and exemptions. The exact amount withheld can vary based on your specific tax situation, including any allowances claimed on your W-4 form. It’s recommended to consult the Virginia Department of Taxation or a tax professional for precise calculations.
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