Tax Credits

Income Tax Paid to Another State or Canadian Province Credit - 32 V.S.A. § 5825

Purpose: Prevent taxation of same income of Vermont residents by more than one taxing jurisdiction.

Credit Amount: Smaller of tax paid to other state or Canadian province or pro rata amount of the Vermont tax on the income from the other state or Canadian province income

Credit Limitation: The smaller of the Vermont tax on the income or the other state or Canadian province tax. Cannot exceed Vermont tax liability.

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For More Information:
Vermont Department of Taxes
133 State Street
Montpelier, Vermont 05633
Tel: 866-828-2865 (toll-free in Vermont)
802-828-2865 (local & out-of-state)

Other Tax Credits:
- Affordable Housing
- Charitable Housing
- Commercial Film Production
- Income Tax Paid to Another
  State or Canadian Province
- Low Income Child &
  Dependent Care
- Qualified Sale of Mobile
  Home Park
- Vermont Earned Income
  Credit
- Vermont Employment
  Growth Incentive (VEGI)
- Vermont Higher Education
  Investment
- Vermont Seed Capital Fund