Vt. Stat. Ann. tit. 32, § 5832
Tax on income of corporations
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
A tax is imposed for each calendar year, or fiscal year ending during that calendar year, upon the income earned or received in that taxable year by every taxable corporation, reduced by any Vermont net operating loss allowed under section 5888 of this title, such tax being the greater of:
A tax is imposed for each calendar year, or fiscal year ending during that calendar year, upon the income earned or received in that taxable year by every taxable corporation, reduced by any Vermont net operating loss allowed under section 5888 of this title, such tax being the greater of:
(1) an amount determined in accordance with the following schedule: or
(1) an amount determined in accordance with the following schedule: or
(2) Subdivision (2) applicable to taxable years beginning on and after January 1, 2019. $75.00 for small farm corporations. “Small farm corporation” means any corporation organized for the purpose of farming, which during the taxable year is owned solely by active participants in that farm business and receives less than $100,000.00 Vermont gross receipts from that farm operation, exclusive of any income from forest crops; or (2) (A) Subdivision (2) applicable to taxable years beginning on and after January 1, 2019. $75.00 for small farm corporations. “Small farm corporation” means any corporation organized for the purpose of farming, which during the taxable year is owned solely by active participants in that farm business and receives less than $100,000.00 Vermont gross receipts from that farm operation, exclusive of any income from forest crops; or
(2) $75.00 for small farm corporations. “Small farm corporation” means any corporation organized for the purpose of farming, which during the taxable year is owned solely by active participants in that farm business and receives less than $100,000.00 Vermont gross receipts from that farm operation, exclusive of any income from forest crops; or (2) (A) $75.00 for small farm corporations. “Small farm corporation” means any corporation organized for the purpose of farming, which during the taxable year is owned solely by active participants in that farm business and receives less than $100,000.00 Vermont gross receipts from that farm operation, exclusive of any income from forest crops; or
(3) An amount determined in accordance with section 5832a of this title for a corporation that qualifies as and has elected to be taxed as a digital business entity for the taxable year; or
(3) An amount determined in accordance with section 5832a of this title for a corporation that qualifies as and has elected to be taxed as a digital business entity for the taxable year; or
(4) For C corporations with Vermont gross receipts from $0-$2,000,000.00, the greater of the amount determined under subdivision (1) of this section or $300.00; or
(4) For C corporations with Vermont gross receipts from $0-$2,000,000.00, the greater of the amount determined under subdivision (1) of this section or $300.00; or
(5) For C corporations with Vermont gross receipts from $2,000,001.00-$5,000,000.00, the greater of the amount determined under subdivision (1) of this section or $500.00; or
(5) For C corporations with Vermont gross receipts from $2,000,001.00-$5,000,000.00, the greater of the amount determined under subdivision (1) of this section or $500.00; or
(6) For C corporations with Vermont gross receipts greater than $5,000,000.00, the greater of the amount determined under subdivision (1) of this section or $750.00. Added 1966, No. 61 (Sp. Sess.), § 1, eff. Jan. 1, 1966; amended 1969, No. 144, § 10, eff. June 1, 1969; 1973, No. 270 (Adj. Sess.), § 1, eff. date, see note set out below; 1983, No. 144 (Adj. Sess.), § 3, eff. April 12, 1984; 1983, No. 144 (Adj. Sess.), § 6(b), eff. Jan. 1, 1988; 1991, No. 32, § 31, eff. May 18, 1991; 1991, No. 67, § 26c, eff. June 19, 1991; 1997, No. 60, § 73, eff. June 26, 1997; 2003, No. 152 (Adj. Sess.), §§ 3, 4, eff. June 7, 2004; 2005, No. 207 (Adj. Sess.), §§ 14, 16, eff. May 31, 2006; 2009, No. 1 (Sp. Sess.), § H.52, eff. Jan. 1, 2010; 2011, No. 143 (Adj. Sess.), § 16, eff. May 15, 2012; 2019, No. 51, § 7, eff. Jan. 1, 2019.
(6) For C corporations with Vermont gross receipts greater than $5,000,000.00, the greater of the amount determined under subdivision (1) of this section or $750.00.
Vermont net income of the corpo- ration for the taxable year allo- cated or apportioned to Vermont under section 5833 of this title Tax $ 0-10,000.00 6.00% 10,001.00-25,000.00 $600.00 plus 7.0% of the excess over $10,000.00 25,001.00 and over $1,650.00 plus 8.5% of the excess over $25,000.00
Vermont net income of the corpo- ration for the taxable year allo- cated or apportioned to Vermont under section 5833 of this title Tax $ 0-10,000.00 6.00% 10,001.00-25,000.00 $600.00 plus 7.0% of the excess over $10,000.00 25,001.00 and over $1,650.00 plus 8.5% of the excess over $25,000.00
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.