Taxes on Businesses and Corporations
We provide you with a variety of tools and services to help you navigate and comply with Vermont’s tax laws and regulations, and to pay the right amount of tax. Here is information about the various taxes for businesses and corporations operating in Vermont.
If you are doing business in Vermont, you are likely subject to one or more taxes depending on your business activities and legal structure.
Annual Income Tax Returns
Almost all businesses that have any operations or activity in Vermont are required to file an annual income tax return, the filing of which generally coincides with federal/IRS reporting requirements.
C-Corporations and LLCs that elect to be taxed as corporations and certain nonprofit organizations are subject to Vermont’s corporate income tax laws and provisions, and file the Form CO-411, Corporate Income Tax Return and related schedules.
Pass-through entities including S-Corporations, Partnerships, and LLCs that elect to be taxed as Partnerships or S-Corps are subject to Vermont’s business income/business entity tax laws and provisions, and file Form BI-471, Business Income Tax Return and related schedules.
There are some exceptions for certain financial service, insurance, and banking institutions. These businesses are generally required to file different returns or reports, and pay tax based on premiums or deposits.