Use Tax: Vermont Self-Audit Program

If you are a business that has not been paying use tax and think that you may be liable, Vermont business owners are able to participate in a self-audit program offered by the Department of Taxes.

The self-audit allows for:

  • Self-reporting of the tax owed
  • Waives all penalties
  • Limits the taxes due to three-year look back period

Referred to as the voluntary disclosure program (VDP), the Vermont Department of Taxes has adopted this as a standard policy.

In order to qualify for the VDP the business must not have been previously approached by the Department of Taxes or audited within the past three years. Please note that interest will be due on any taxes owed.

How We Can Assist

Davis & Hodgdon Associates has several years of experience representing clients with tax authorities and we can act as a liaison with the Department of Taxes during your self-audit. We are able to:

  • Assist in setting up your account
  • Assist in preparing the worksheet
  • Calculate the amount owed to the state

The following white paper outlines general guidelines for the application of use tax in the state of Vermont:

Need help with your use tax self-audit? Davis and Hodgdon Associates CPAs has been assiting nonprofits, individuals and businesses with 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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