Vermont Governor Indicators Legislation on Modifications to Corporate Revenue Tax, Conformity to Federal Tax Legal guidelines

June 2, 2022, 5:00 AM

The Vermont Governor May 31 signed a law amending Vermont corporate income tax and conformity to federal tax law provisions. The law includes measures: 1] amending the provision related to the tax calculation on corporations’ income by changing and establishing the gross receipts ranges for C corporations; 2] requiring a taxable corporation subject to apportionment to report stated information to the Commissioner of Taxes; 3] clarifying that a unitary combined return shall include the income and apportionment factors of any taxable corporation incorporated in the U.S. or formed under the laws of any state; and 4] adopting the statutes of …

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