Virginians earning more than $1 million would be subject to an income tax rate of 10% under legislation proposed by state Sen. Mamie Locke.
They, like Virginians earning more than $17,000, are currently subject to the state’s top rate of 5.75%.
The new bracket and tax rate would add Virginia to the small list of states that levy double-digit-percentage taxes on high-income individuals.
Read the full story in the Richmond Times-Dispatch.
