VERMONT BUSINESS CORPORATE TAX, VERMONT PERSONAL INCOME TAX, VERMONT SALES TAX RATES

What is the Vermont Corporate net income tax rate(s)?

0-10,000 6%
10,000-25,000 7%
25,000 + 8.5%

What is the Vermont personal net income tax rate(s)?

0-33,950 3.55%
33,950-82,250 7%
82,250-171,550 8.25%
171,550-372,950 8.9%
372,950 + 9.4%

What is the average Vermont sales tax rate(s)?

6%

Are there standard deductions?

Single:   $5,450
Joint:   $10,900

Are there personal exemptions?

Single:   $3,500
Dependents:   $3,500

What forms do you file for your Vermont taxes?

Vermont C corporations:   Form CO-411
S corporations:   Form BI-471
Partnerships:   Form BI-471
Individual (Vermont LLC members):   Form IN-111
Vermont Nonprofit Charities: Form S-1

Estimated tax payments?

Corporations must file CO-414 for estimated taxes if their tax liability is more than $500 in the previous year.

Form IN-114. Vermont follows the IRS standards for estimated payments. If you will owe $500 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. It has to be at least 100% of the previous year, even if you think you won’t make as much in the current year.

Vermont Department of Revenue:

Vermont Department of Taxes
P.O. Box 547
Montpelier , VT 05601–0547
Telephone: 802-828-2518 or 802-828-5787
Website:  http://www.tax.vt.gov/index.shtml

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