RICHMOND, Va. – Virginia Tax reminds residents that starting July 1, a number of new state and local tax laws go into effect.
These laws, which the Virginia General Assembly enacted during the 2019 and 2020 sessions, include changes to taxes on tobacco products.
Cigarette and tobacco products tax rates will double starting in July. The tax on a pack of cigarettes will increase from 30 cents to 60 cents per pack.
The new tax rate for liquid nicotine products is 6.6 cents per milliliter on sales.
As of July 1, gun safes with a selling price of $1,500 or less per item are exempt from the retail sales and use tax.
This exemption includes a gun safe or vault that is commercially available, secured with a digital or dial combination locking mechanism or biometric locking mechanism, and designed for the storage of a firearm or for ammunition.
Glass-faced cabinets are not eligible for this exemption.
For a complete list of the new 2020 state and local tax laws, click here.