IRS and Vermont Allow Extra Time for Businesses to file Extensions
The IRS is granting many businesses affected by recent severe winter storms five additional days to request a six-month extension to file their 2017 federal income tax returns. Similarly, the Vermont Department of Taxes will also grant the additional five days. Business taxpayers who were unable to file their 2017 Vermont income tax returns by the due date of March 15 have until Tuesday, March 20, 2018, to file an extension.Get more information.
Correction for Property Transfer Tax Return
Multiple deeds are allowed
We had stated incorrectly on our website that each transfer of a deed must be accompanied by a Property Transfer Tax Return submission to the town clerk. The Department regulations actually allow for multiple deeds to be included on one form PTT-172 submitted to one town clerk when a single transfer of real property involves more than one deed. If a single transfer involves properties in more than one town, a separate PTT-172 must be submitted to each town clerk.
New Technical Bulletin on Nexus
New TB-70 addresses corporate and business income tax nexus
The Department of Taxes issued a new technical bulletin on March 1.
TB-70, Corporate and Business Income Tax Nexus, Filing Requirements, and Minimum Tax Liability, summarizes the Department's administration of Vermont law on corporate and business nexus. Please review this technical bulletin to be sure your business is meeting Vermont requirements.
New Fact Sheets
See these fact sheets on our website
New: fact sheet on sales & use tax on cleaning services for linens and other rented items
See a complete list of fact sheets, guides and infographics on our website.
New Video About Website
New Video demonstrates the Department of Taxes website.
Watch a new 8-minute video giving an overview and tour of our website. Get tips for navigation and learn how to search and locate information fast.
Contact Us When You Have a Question
Tax professionals with questions can reach the Department of Taxes at the 802-828-6815, or by emailing firstname.lastname@example.org. This special phone number for professional preparers is answered Monday-Friday 7:45AM-4:30PM.
Would Your Colleagues Benefit from Our Newsletter?
If you have colleagues who would be interested in the content of Department newsletters, please let them know how to sign up by sharing this link.