Virginia Tax Department Issues Information on Income Taxability of Gig Work

The Virginia Department of Taxation March 14 issued information on the corporate income and individual income taxability of gig work. The information includes: 1) income earned from part-time, temporary, or side work through an app or website for services like making deliveries, selling goods online, or driving for hire is taxable; 2) employers should withhold Virginia income tax from their employee’s paycheck and submit that portion of the employee’s wages to the department on the employee’s behalf; 3) independent contractors may have to quarterly make estimated payments of income tax to report their income; 4) taxpayers receiving $600 or more ...