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Searching 2023-2024 Session

The Vermont Statutes Online

The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.

NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.

Title 32 : Taxation and Finance

Chapter 151 : Income Taxes

Subchapter 002 : Taxation of Individuals, Trusts, and Estates

(Cite as: 32 V.S.A. § 5825)
  • § 5825. Credit for taxes paid to other states and provinces

    (a) A taxpayer of this State who was a resident individual, estate, or trust during any portion of a taxable year shall receive credit against the tax imposed, for that taxable year, by section 5822 of this title for income taxes imposed by, and paid to, another state or territory of the United States, the District of Columbia, or a province of Canada, upon the taxpayer’s income earned or received from sources within that state, territory, district, or province during that portion of that taxable year. In no case shall the credit allowed by this section exceed the portion of Vermont income tax, otherwise imposed by this chapter, attributable to the adjusted gross income earned or received from sources within such other state, territory, district, or province.

    (b) For purposes of this section, when a taxpayer domiciled in another jurisdiction is deemed to be a resident of Vermont as provided by subdivision 5811(11)(A)(ii) of this title, income from intangibles not employed in a business, trade, or profession shall be deemed to be derived from sources within the jurisdiction of domicile. However, notwithstanding the provisions of this subsection, no credit will be allowed against the tax imposed unless the jurisdiction of domicile provides for a similar credit. (Added 1966, No. 61 (Sp. Sess.), § 1, eff. Jan. 1, 1966; amended 1981, No. 134 (Adj. Sess.), § 1, eff. April 2, 1982; 1991, No. 67, § 26, eff. June 19, 1991; 1991, No. 186 (Adj. Sess.), § 12; 1997, No. 50, § 16, eff. June 26, 1997; 2001, No. 140 (Adj. Sess.), § 8, eff. June 21, 2002.)