Floyd County
P.O. Box 218
Floyd, VA 24091
(540) 745-9300
E-Mail: info@floydcova.org
The Floyd Information Network is sponsored by the County of Floyd VA.
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Business-friendly Location |
- Virginia ranks lst in lowest tax burden (i.e. Unemployment Insurance Tax per Employee)
- Virginia ranks 4th in Net Workers' Compensation Insurance Costs for Manufacturing (per $100 of payroll)
- Virginia has a 6% State Corporate Income Tax Rate that has been fixed since 1972
- Virginia is the northern-most "right-to-work" state on the East Coast
- Virginia is a Right to Work State. There are no unions in Floyd Co.
- Vibrant growth in small businesses
- Low local tax rates ($0.50/$100 Real Estate and $1.55/$100 in Machinery and Tools)
Machinery and Tools Tax |
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% Valuation |
Assessment |
Taxes |
| Year 1 |
60% |
$60,000 |
$930 |
| Year 2 |
50% |
$50,000 |
$775 |
| Year 3 |
40% |
$40,000 |
$620 |
| Year 4 |
30% |
$30,000 |
$465 |
| Year 5 |
20% |
$20,000 |
$310 |
| Year 6+ |
20% |
$20,000 |
$310 |
Local Financial Products and Services:
- $236 million in deposits
- 14 branches in Virginia
- About $159 million in assets
- 7 branches in Virginia
- All decisions made locall
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