Vermont Research and Development Tax Credit
Supports Vermont businesses with innovation tax credits that reduce innovation costs.
The Vermont Research and Development Tax Credit (32 V.S.A. § 5930ii), first enacted in 2009, allows any Vermont taxpayer who qualifies for the federal R&D credit under IRC §41 to claim an additional Vermont state credit equal to 27% of the federal credit allowed in that year, for R&D expenditures made within Vermont. The credit applies against Vermont personal income tax or corporate and business …
Provides Vermont taxpayers a state income tax credit equal to 27% of their federal IRC §41 R&D credit for qualifying research expenditures made within Vermont, with a pending 75% rate for small manufacturers.
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