New Virginia tax laws to expect for 2020 including personal hygiene products

RICHMOND, Va. (WSET) --With the start of the year, Virginians can expect new tax laws that will go into effect Jan. 1, 2020.

According to Virginia Tax, some of the law changes include reduced tax rates onpersonal hygiene products, changes to the deduction ofindividual income taxes and more.

Starting Jan. 1, the sales tax rate in Virginia on personal hygiene products will be reduced to 2.5 percent.

This includes products such as:

• Disposable diapers (regardless of age of user)
• Disposable incontinence pads
• Disposable bed sheets
• Feminine hygiene products like sanitary napkins and towels and tampons

Also,for taxable year 2019, the standard deduction will increase to $4,500 for taxpayers filing single, or married filing separately; and $9,000 for married taxpayers filing jointly.

Virginias can also deduct real and personal property taxes paid to Virginia or any other taxing jurisdiction up to $10,000.

Here are other tax changes:

• Extension of Time to Claim the Land Preservation Tax Credit: To receive credits for land or interest in land conveyed or transferred before Jan. 1, 2020, you must apply by Dec. 31 of the third year following the recorded year of the donation. For land or interest in land conveyed or transferred on or after Jan. 1, 2020, you must apply by Dec. 31 of the second year following the recorded year of the donation. See Land Preservation Tax Credit.
• Telework Expenses Tax Credit Expiration: You can’t claim this credit for any taxable year beginning on or after Jan. 1, 2019.
• New Requirement for the Provision of Preparer Tax Identification Numbers: If you are an income tax professional, for taxable years beginning or after Jan. 1, 2019, state law requires you to include your Preparer Tax Identification Number (PTIN) on any returns you prepare.

For more information, go here.