The Payroll Tax Credit (Vermont)
Last modified on February 17, 2013.
|Applies to States or Provinces||Vermont|
|Name||The Payroll Tax Credit (Vermont)|
|Policy Category||Financial Incentive|
|Policy Type||Corporate Tax Incentive|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy|
|Implementing Sector|| State/Province
|Program Administrator||Vermont Department of Taxes|
|Primary Website|| http://www.state.vt.us/tax/creditspayroll.shtml
|Information Source||http://www.access-vermont.com/incent/econadv.htm#payroll, http://www.leg.state.vt.us/statutes/fullsection.cfm?Title=32&Chapter=151&Section=05930c|
The Payroll Tax Credit provided by the Vermont Economic Progress Council provides a credit against income tax equivalent to a percentage of increased payroll costs. A company with sales less than $10 million may receive equal to 10 percent of its increased costs of salaries and wages in the applicable tax year. The credit was established in 1998 to foster new job creation within Vermont.
|Department||Vermont Economic Progress Council|
|Address||National Life Building|
|Address 2||Drawer 20|