Hello all. This is my first post, and it's about some confusion with Virginia's income tax return. The instructions for filling out their form 760 can be found here: http://www.tax.virginia.gov/sites/ta...structions.pdf
On page 3, you'll find the following section:
| Do You Need to File a Virginia Income |
Every Virginia resident whose Virginia adjusted gross
income is at or above the minimum threshold must file.
Complete Form 760, Lines 1 through 9, to determine
your Virginia adjusted gross income (VAGI). If the
amount on Line 9 is less than the amount shown below
for your filing status, your Virginia income tax is $0.00
and you are entitled to a refund of any withholding or
estimated tax paid. You must file a return to receive a
refund. To claim a refund in these cases, skip to Line
19 and enter “0” as your tax, and then complete Lines
20 through 38. You must file if you are:
- Single and your VAGI is $11,950 or more
- Married filing jointly and combined VAGI is $23,900 or more
- Married filing separately and your VAGI is $11,950 or more
This seems to pretty clearly say that my tax is $0 if I made less than $11,950.
If you go to page 36, however, you'll see the tax tables, and rules that seem to directly contradict that statement. Here, people who make as little as $25 owe a buck for income tax. Now this is taxable income vs gross income, but the standard deduction and single exemption only add up to $3,930, so there is still an $8,000 discrepancy here.
Could someone help me understand what the rules are here? Thanks!