Vermont state taxes

Bankrate's 2009 Tax Guide

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Vermont

By Bankrate.com

Vermont has five income brackets and its tax rates range from 3.6 percent to 9.5 percent. More on Vermont taxes can be found in the tabbed pages below.

Income

Sales

Property

Estate

Other

Personal income tax
	Vermont's income tax rates are assessed over five tax brackets. For single taxpayers: -- 3.6 percent on the first $32,550 of taxable income -- 7.2 percent on taxable income between $32,551 and $78,850 -- 8.5 percent on taxable income between $78,851 and $164,550 -- 9 percent on taxable income between $164,551 and $357,700 -- 9.5 percent on taxable income of $357,701 and above. For married persons filing joint returns: -- 3.6 percent on the first $54,400 of taxable income -- 7.2 percent on taxable income between $54,401 and $131,450 -- 8.5 percent on taxable income between $131,451 and $200,300 -- 9 percent on taxable income between $200,301 and $357,700 -- 9.5 percent on taxable income of $357,701 and above.
	Vermont's tax returns are due on April 15 or the next business day if that date falls on a weekend or holiday.

Sales tax
	Vermont's general sales tax rate is 6 percent. The tax is imposed on sales of tangible personal property, amusement charges, fabrication charges, some public utility charges and some service contracts.
	Effective Jan. 1, 2007, tax law changes mean that the tax rate to be applied for local option purposes is determined by the delivery location of the item purchased, rather than the sale's origin. For example, a seller in Montpelier, which has no local option tax, would be required to collect the tax on a taxable item shipped or delivered to a buyer in Burlington.
	A use tax is imposed on the buyer at the same rate as the sales tax. The buyer pays the use tax when the seller fails to collect the sales tax or the items are purchased from a source where no tax is collected. The use tax applies to items taxable under the sales tax rule.

Personal and real property taxes
	Property taxes are imposed for the support of education and municipal services. Vermont's Department of Taxes offers information on how rates are set.
	See Vermont's school property tax rates.
	Vermont taxpayers can simultaneously file the Declaration of Vermont Homestead and Property Tax Adjustment claim by filing Form HS-122.
	A downloadable property tax calculator (Excel format) can help you determine your property tax liability.
	Additional property tax forms can be found on the agency's Web site.

Inheritance and estate taxes
	Vermont does not collect inheritance taxes.
	Vermont's estate tax is decoupled from the federal estate tax laws and therefore still imposes its own estate tax.

Other Vermont tax facts
	To encourage investment in Vermont businesses, the state offers several economic tax incentives.
	Vermont taxpayers who file homestead declarations may designate all or part of a state income tax refund to pay their property tax bill. The State will include an additional 1 percent to the refund credited to your property taxes.
	Vermont taxpayers can go online to check the status of state refunds.