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Corporate Income Tax

A C Corporation must file Form CO-411, Vermont Corporate Income Tax Return, if:

  • It was incorporated under the laws of the State of Vermont or

  • It received income allocable or apportioned to Vermont, including income received as a shareholder, partner, or member.

  • It has an open corporate income tax account. If there was no activity or tax liability in Vermont for the year, but the business would like to maintain the account, an inactive return must be filed. No tax is due.

The Corporate Income Tax is a net income tax based on income allocated or apportioned to Vermont. A minimum tax applies to all active Corporations (including LLCs electing to be taxed as C-Corporations).

Payment Methods

You may make electronic payments regardless of the method used to file your return using one of the following payment methods:


myVTax is a convenient and free service that allows you to manage, file, and pay your Vermont taxes using ACH Debit. You may also make a payment through myVTax using your Credit Card, subject to a 3% processing fee, which is retained by the service company. ACH Credit is an easy and convenient way to pay your Vermont taxes. Review the ACH Credit instructions and ACH Credit Payments QuickStart Guide to get started.

Paper Forms

Mail your personal check, cashier’s check, or money order payable to the Vermont Department of Taxes.

Vermont Department of Taxes
PO Box 1779
Montpelier, VT 05601-1779

Filing Deadlines

Type Filing Deadline
Income Tax Returns Form CO-411, Corporate Income Tax Return, is due on the date prescribed for filing under the Internal Revenue Code.
File an Extension An extension of time to file a federal return automatically extends the time to file with Vermont until 30 days beyond the federal extension date. However, tax is due on the original due date.
Estimated Payments Any corporation anticipating a Vermont tax liability over $500 must make estimated payments of the 15th day of the 4th, 6th, 9th, and 12th months of the corporation’s taxable year. Use payment voucher Form CO-414, Corporate Estimated Tax Payment Voucher.

S Corporations, Partnerships, and Limited Liability Companies are subject to the Business Income Tax.

Beginning with tax year 2006, groups of affiliated corporations conducting unitary business must file a group return that includes the combined net income of the affiliated group. For tax years 2008 through 2013, unitary groups file Form CO-411-U, Combined Report for Unitary Group. Starting in 2014, they file CO-411.

Due Date Submit
12/15/2023 CO-414, Quarterly Estimated Tax Payment Voucher

CO-411, Corporate Income Tax Return, or
BA-403, Application for Extension of Time to File Vermont Corporate/Business Income Tax Return
CO-414, Quarterly Estimated Payment Voucher


CO-414, Quarterly Estimated Tax Payment Voucher


CO-414, Quarterly Estimated Tax Payment Voucher


Extended due date for:
CO-411, Corporate Income Tax Return


CO-414, Quarterly Estimated Tax Payment Voucher

*For Corporations using the calendar year

Tax Rates

Marginal Tax Rates (Effective Beginning with Tax Year 2007):

Allocable to Vermont Base Tax Plus of Amount Over
$0 - 10,000   6.00% $0
$10,001 - 25,000 $600 7.00% $10,000
$25,001 - and more $1,650 8.50% $25,000.00

Minimum Annual Tax:

If Vermont Gross Receipts are the Minimum Tax is
Less than $500K $100
$500K to $1 million $500
$1 million to $5 million $2,000
$5 million to $300 million $6,000
Over $300 million $100,000

For tax years prior to 2012, the minimum tax for every tax year, whether 12 months or a short period, is $250.

Exceptions: Small Farm Corporation - Minimum tax of $75 (see 32 V.S.A. 5832(2)(A))

A small farm corporation is a corporation with gross farm receipts of less than $100,000, owned and operated by occupants. Its business activity is farming. It is not an investment property, rental property, or any other type of venture.

Tax Year 2023 Corporate and Business Income Tax Forms and Instructions

Number Instructions Title
BA-402 Instructions Apportionment & Allocation Schedule
BA-403 Included with form Application for Extension of Time to File Vermont Corporate/Business Income Tax Returns
BA-404 Instructions Tax Credits Earned, Applied, Expired, and Carried Forward
BA-406 Instructions Credit Allocation Schedule
BA-410 Instructions Vermont Corporate Income Tax Affiliation Schedule
BI-470 Included with form Business Income Tax Return Payment Voucher
BI-471 Instructions Business Income Tax Return
BI-472 Instructions Non-Composite Schedule
BI-473 Instructions Composite Schedule
BI-476 Instructions Business Income Tax Return for Resident Only
BI-477 Instructions Vermont Income Adjustment Calculation: Pass-Through Nonresident
BR-400 Included with form Application for Business Tax Account
BR-401 Included with form Change In Business Principals with Fiscal Responsibility
CO-411 Instructions Corporate Income Tax Return
CO-414 Included with form Corporate Estimated Tax Payment Voucher
CO-419 Instructions Apportionment of Foreign Dividends (for Unitary-Combined only)
CO-420 Instructions Foreign Dividend Factor Increments (for Unitary-Combined only)
CO-421 Instructions Unitary Affiliate Schedule - Unitary Filing Only
CO-422 Included with form Corporate Income Tax Return Payment Voucher
K-1VT Instructions Shareholder, Partner, or Member Information
WH-435 Included with form Estimated Income Tax Payments for Nonresident Shareholders, Partners, or Members