Calculating Vermont Use Tax

To file and pay your Vermont Use Tax on your individual income tax return, you may calculate use tax due in one of two ways: 1) track your purchases subject to use tax and pay the actual amount due or 2) approximate the tax using a chart based on a percentage of your adjusted gross income. Effective, Jan. 1, 2015, use tax calculated for the 2014 tax year for those with AGIs above $99,999 is set at 0.10 percent.

Davis & Hodgdon Associates CPAs has been assisting individuals and businesses with business, tax and accounting services in the Burlington Vermont Metro area for more than 20 years. If you have any questions or concerns please feel free to call 802.878.1963 or email [email protected].

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