Vermont Corporation

You can get an EIN directly from the IRS. The application is free, and most businesses can apply online. However, if you don’t have a social security number, you’ll need to submit a paper application form. Can’t bear to fill out yet another application? Hire Northwest to get your EIN for you. Just add on EIN service during checkout when you sign up for our incorporation service.

Corporate bylaws cover basic policies and procedures for issues such as company finances and management. Bylaws should cover a range of topics, answering key questions like those below:

• Meetings: When and where will meetings for shareholders and directors be held? How many attendees are required to transact business? What are the procedures for voting or proxy voting? How do you call a special meeting? What actions can be taken without a meeting?

• Stock: How are stock certificates issued and transferred? How is voting affected by issues such as corporate stock owners or fractional shares?

• Directors and officers: How many directors must there be? Which officer positions are required? What powers do they have? How do you fill a vacancy or remove a director or officer?

• Finances: What are the procedures for retaining profits, issuing dividends, and paying bills? Who can withdraw money from the corporate bank account or sign checks?

• Records: Where is the corporate book to be kept? What information will be maintained? How are requests for review or access honored? Can records or copies be kept or distributed digitally?

• Amendments and emergencies: Who can amend bylaws and how? Can emergency bylaws be adopted in the case of disaster?

Vermont bylaws can make other provisions as well, assuming additions are in accordance with state law. For example, state statute 11A V.S.A. § 7.05 notes that Vermont bylaws can require that notice needs to be given if an annual or special shareholders’ meeting is adjourned to a different date, time, or place.

Creating bylaws can be overwhelming—where do you start? Northwest can help. We give you free corporate bylaws when you hire us to form your Vermont corporation. We know what kinds of topics and questions corporations need to address, and we’ve spent years refining and improving our forms. We offer many other free corporate forms as well, including templates for resolutions and meeting minutes.

$45. This is the fee required to file the Vermont Annual Report.

The filing is due 2.5 months after your fiscal year end. If you operate on a typical calendar year, this means you’ll need to file your Annual Report by March 15th. Forget to file? You’ll pay a $25 late fee.

These filings can be easy to forget—which is why we send our clients automatic reminders for your Vermont Annual Report filings. Or better yet, let us file for you. With our business renewal service, we can complete and submit your annual report for you for $100 plus the state fee.

Vermont’s corporate net income tax rates are:

6%: $0 to $10,000
7%: $10,001 to $25,000
8.5%: over $25,000

Vermont also requires a minimum tax based on Vermont gross receipts. Most corporations have a minimum tax of $300. The minimum will increase to $400 if your corporation has over $2 million in gross receipts (and will jump to $750 if you have over $5 million in gross receipts).

Have an S corp? Instead of the corporate net income tax, your business is subject to Vermont’s Business Entity Tax (a flat $250).

The Vermont sales tax is 6%. Cities are permitted to add on an additional percent, so in cities like Burlington and South Burlington, the rate is 7%. There are also loads of specialty taxes, especially for specific goods and services. For example, there’s a 9% tax on prepared meals, restaurant meals, and hotel rooms.

Most businesses operating in Vermont have to register with the Vermont Department of Taxes. You can register via the myVTax or by filing an Application for Business Tax Account. You’ll need your EIN before you can register.

$125. This is the state filing fee to submit Vermont Articles of Incorporation.

Hire us for a one-time fee of $350, including the state filing fees and minimum franchise tax fee.

You can typically get your approval within a day or two if you file online. It takes much longer by mail—about 7-10 days. The Vermont Secretary of State also makes it tough to apply with a paper form. The forms are not readily available on their site, but if you need to file through the mail you can request whatever forms you need via the state’s Forms Request tool.

There’s no general, statewide business license required in Vermont, but many local areas have licensing requirements of their own. For instance, if you operate in the town of Brattleboro, you’ll need a business license ($50) and if your location needs signage, you’ll pay another $45 for a sign permit.

For some license applications you may need an EIN or a certified copy of your Articles of Incorporation. At Northwest, we can streamline the process and get these for you—simply add on these items during checkout.

A corporation formed outside of Vermont—but which conducts business in the state—is considered a foreign Vermont corporation. For example, if you incorporated in Maine but decide to open a storefront in Vermont, you would be a foreign Vermont corporation. This also means you would need to register with the state by filing an Application for Certificate of Authority with the Vermont Secretary of State. Foreign corporations are required to file the Vermont Annual Report each year as well.

Absolutely! We’re happy to start a nonprofit corporation for you. Note that incorporating a Vermont nonprofit requires a different form, but the filing fee is the same: $125. Vermont nonprofits must also file a biennial report every two years ($20).

It’s a conundrum: you need a local number to display on your website and give to customers, but you don’t want to make your personal number quite so…public. We get it. And we’ve got you covered with Northwest Phone Service. We can provide you with a virtual phone number in any state—plus unlimited call forwarding and tons of easy-to-use features. You can try Phone Service free for 60 days when you hire us to form your corporation, and maintaining service is just $9 monthly after that. No contract required.