Vermont State Income Tax - Tax Year 2012
1.1 -
Contents
Contents
1.
Vermont Income Tax Table
| Tax Bracket (Single) [2] | Tax Bracket (Couple) [3] | Marginal Tax Rate |
| $0+ | $0+ | 3.55% |
| $34,500+ | $57,650+ | 6.80% |
| $83,600+ | $139,350+ | 7.80% |
| $174,400+ | $212,300+ | 8.80% |
| $379,150+ | $379,150+ | 8.95% |
Learn how marginal tax brackets work 
2.
Vermont Income Tax Calculator
3.
The Vermont Income Tax
Vermont collects a state income tax at a maximum marginal tax rate of 8.95%, spread across five tax brackets. Unlike the Federal Income Tax, Vermont's state income tax does not provide couples filing jointly with expanded income tax brackets. Vermont's maximum marginal income tax rate is the 6th highest in the United States, ranking directly below New Jersey's 8.97%.
Personal income tax in Tennessee applies only to interest and dividend income. There are -38 days left until Tax Day, on April 15th 2013.
4.
Vermont Tax Deductions
Income tax deductions are expenses that can be deducted from your gross pre-tax income. Using deductions is an excellent way to reduce your Vermont income tax and maximize your refund, so be sure to research deductions that you mey be able to claim on your Federal and Vermont tax returns. For details on specific deductions available in Vermont, see the list of Vermont income tax deductions.
4.1 - Vermont Standard Deduction
-
The Vermont standard deduction is $5,800.00 for individuals and $11,600.00 for married couples filing jointly. The standard deduction may be chosen instead of filing an itemized deduction on your Vermont tax return.
4.2 - Vermont Personal Exemptions
- Vermont's personal income tax exemptions include a personal exemption of $3,700.00. You can deduct one single exemption from your gross income if you are responsible for supporting yourself financially.
4.3 - Vermont Dependent Deduction
- Vermont has a dependent exemption of $3,700.00. You may claim one dependent examption for each of the children, relatives, or others who live with and are supported by you as described § 152 of the IRC (Internal Revenue Code).
4.4 - Vermont Itemized Deductions
- Vermont allows itemized deductions, and you can claim the same itemized deductions on your Vermont tax return as you do on your Federal tax return. You must choose between itemizing your deductions and choosing the Vermont standard deduction, so it's generally only worth itemizing your deductions if your itemized total is more then the Vermont and Federal standard deductions. For more details, visit the list of Vermont itemized deductions.
5.
Vermont Income Tax Forms
Tax-Rates.org provides easy access to three of the most commonly used Vermont income tax forms, in downloadable PDF format. For all of the tax forms we provide, visit our Vermont tax forms library or the Department of Taxes 's tax forms page.
02/2013
Form IN-111 - Individual Income Tax ReturnForm IN-111 is the general income tax return for Vermont residents. IN-111 can be eFiled, or a paper copy can be filed via mail.
02/2013
Form IN-151 - Application for Extension of TimeMake sure to file an application for extension of time to file by the due date.
05/2012
Form IN-152 - Estimated Tax Underpayment FormIf you failed to pay or underpaid your estimated taxes for the past tax year, you must file form IN-152 to calculate any interest or penalties due with your income tax return.
11/2012
Printable Vermont Tax Table & Tax Reference
Tax-Rates.org provides a printable Vermont datasheet including an income tax table, a list of Vermont tax deductions, important URLs and addresses, and more. This document is in PDF format.
If you are not a resident of Vermont, have a complicated tax return, or have other specialized circumstances you may need to download additional tax forms from the Department of Taxes website. You can find all of Vermont's 2013 income tax forms on the Department of Taxes income tax forms page 
.
.
6.
How To File Your Vermont Income Tax Return
Once you've filled out your Vermont income tax return, you have several options for filing and paying your income tax. You can mail your return to the Department of Taxes at the correct address below, and include your payment by check or money order. You may also electronically file your Vermont tax return through a tax preparer or using online tax software, and pay your taxes instantly using direct debit or a credit card (an additional credit card fee may apply).
7.
Where To Send Your Vermont Tax Return
If you filled out physical tax return forms, mail your completed Vermont income tax return to the Vermont Department of Taxes no later then January 1st. Please be sure to send your completed tax forms to the correct address for your filing type.
Income Tax Returns (No Payment) VT Department of Taxes PO Box 1881 Montpelier, VT 05601-1881 |
Income Tax Returns (Payment Enclosed) VT Department of Taxes PO Box 1779 Montpelier, VT 05601-1779 |
8.
e-Filing: Submit Your Vermont Tax Return Online
You can save time and money by electronically filing your Vermont income tax directly with the Department of Taxes . Benefits of e-Filing your Vermont tax return include instant submission, error checking, and faster refund response times. Most tax preparers can electronically file your return for you, or you can do it yourself using free or paid income tax software, like the examples listed below.
To e-file your Vermont and Federal income tax returns, you need a piece of tax software that is certified for eFile by the IRS. While most in-depth tax software charges a fee, there are several free options available through the states, and simple versions are also offered free of charge by most tax software companies.
The two most popular tax software packages are H&R Block At Home, sold by the H&R Block tax preparation company, and TurboTax Federal & State, sold by the Intuit software company. Both companies produce multiple editions for simple to very complex tax returns, so be sure to carefully compare the features offered by each package.
9.
Getting Your Vermont Tax Refund
If your state tax witholdings are greater then the amount of income tax you owe the state of Vermont, you will receive an income tax refund check from the government to make up the difference.
It should take one to three weeks for your refund check to be processed after your income tax return is recieved. E-filing your return and filing early can help ensure your refund check gets sent as quickly as possible.
Once you've filed your tax return, all you have to do is wait for your refund to arrive. If you want to check the status of your Vermont tax refund, you can visit the Vermont Department of Taxes Income Tax Refund page.
How can we improve this page? We value your comments and suggestions! Send Instant Feedback About This Page
10.
References
- Our state ranking and income tax figures are based on a family of four (married parents with two children) earning the national median household income of $50,000 per year. Deductions and personal exemptions are taken into account, but some state-specific deductions and tax credit programs may not be accounted for.
- Before the official 2013 Vermont income tax rates are released, provisional 2013 tax rates are based on Vermont's 2012 income tax brackets.
-
The 2013 state personal income tax brackets are updated from the Vermont Department of Taxes and Tax Foundation data.
-
Vermont tax forms are sourced from the Vermont Department of Taxes income tax forms page, and are updated on a yearly basis. Please make sure the Vermont forms you are using are up-to-date.
