The Department of Taxes is pleased to announce a public comment period is now standard before finalizing our technical bulletins. This process change is a result of feedback we received on our summer small business listening tour.
Small business owners and tax practitioners asked for better awareness and opportunity to comment on draft bulletins before they are finalized. We will now include a 30-day comment period before the Commissioner finalizes a technical bulletin.
Currently, there are three technical bulletins posted for comment:
Technical Bulletin 45 (update) - Solar Energy Investment Tax Credit
The purpose of this bulletin is to describe the application of the solar energy investment tax credit. The updates relate to making the bulletin consistent with the current state of the law in Vermont.
Technical Bulletin 48 (update) - Meals and Rooms Tax for Charges at a School or College
This bulletin addresses situation in which schools are required to collect the Vermont Meals and Rooms Tax, or when vendors making sales onto a school or college campus are required to collect meals and rooms tax.
Technical Bulletin XX (new) - Corporate and Business Income Tax Nexus, Filing Requirements, and Minimum Tax Liability
This bulletin summarizes Vermont's law pertaining to corporate and business income tax nexus. It is meant to serve as an overview to common questions related to nexus.