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Vermont collects a state personal income tax in a progressive structure of five different income brackets, with marginal tax rates ranging from 3.6% to 9.5%. In 2008, the top 1% of Vermont residents provided 30% of the income tax revenue; around 2,000 people had sufficient income to be taxed at the highest marginal rate of 9.5%.
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The expanded child tax credit expired at the end of 2021, but Vermont is planning to issue its own credit to families with young children. See: Child Tax Credit Update: Yellen Urges Americans to ...
The rankings showed Vermont had a per capita tax load of $5,387, 14.1% of the per capita income of $38,306. [23] Vermont collects personal income tax in a progressive structure of five different income brackets, with marginal tax rates ranging from 3.6% to 9.5%. In 2008, the top one percent of the residents provided 30% of the income tax ...
[11] As of January 2013, Vermont was still working out the role of Green Mountain Care and the responsibilities of the bill, as well as how to fund the program. Dr. Hsiao, for example, had proposed an 11% payroll tax on employers, and the administration was required under Act 48 to provide a financing system in 2013. [12]
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