58.1-461 - Requirement of withholding. - Virginia Statutes

§ 58.1-461. Requirement of withholding.

Every employer making payment of wages shall deduct and withhold with respectto the wages of each employee for each payroll period an amount determined asfollows: Such amount which, if an equal amount was collected for each similarpayroll period with respect to a similar amount of wages for each payrollperiod during an entire calendar year, would aggregate or approximate theincome tax liability of such employee under this chapter after makingallowance for the personal exemptions to which such employee could beentitled on the basis of his status during such payroll period and aftermaking allowance for withholding purposes for a standard deduction from wagesin accordance with the laws of the United States relating to federal incometaxes and after making an allowance for any credit available to the employeeas provided by § 58.1-332, and without making allowance for any otherdeductions. In determining the amount to be deducted and withheld under thisarticle, the wages may, at the election of the employer, be computed to thenearest dollar.

An employer shall not be required to deduct any amount upon a payment ofwages to an employee if there is in effect with respect to such payment awithholding exemption certificate, in such form and containing such otherinformation as the Tax Commissioner may prescribe, furnished by the employeeto the employer, certifying that the employee: (i) incurred no liability forincome tax imposed by this chapter for his preceding taxable year; and (ii)anticipates that he will incur no liability for income tax imposed by thischapter for his current taxable year.

(Code 1950, § 58-151.2; 1962, c. 612; 1971, Ex. Sess., c. 171; 1972, c. 827;1984, cc. 675, 682.)