State program
Vermont Research and Development Tax Credit
A credit calculated as a straight percentage of the federal credit earned on Vermont research.
Program Overview
Vermont keeps its research credit intentionally simple: the state credit equals a fixed percentage of the federal research credit attributable to research conducted in Vermont. Because the computation piggybacks entirely on the federal claim, the incremental compliance burden is minimal for companies already filing a federal Form 6765. The Vermont Department of Taxes publishes an annual list of credit recipients, so claimants should expect their participation to be a matter of public record.
Eligibility
Taxpayers who claim a federal research credit for qualified research conducted within Vermont.
Benefits
Non-refundable credit against Vermont income tax.
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