Vermont H0135 proposes tax law changes including annual federal income tax conformity, joint tax returns for joint federal filers, and reimbursement.

Vermont H0135 makes several changes to state tax laws. It aligns Vermont's personal income tax laws with federal laws as of December 31, 2024, and requires joint Vermont tax returns for those filing jointly at the federal level. The bill also modifies the earned income tax credit, Social Security income exclusion, and tobacco products tax. It increases the pay for property tax hearing officers and extends reimbursement to municipalities for state education property taxes abated due to flooding. The changes take effect on various dates, with some provisions retroactive to January 1, 2025.

Vermont H0135 proposes tax law changes including annual federal income tax conformity, joint tax returns for joint federal filers, and reimbursement.

Vermont H0135 makes several changes to state tax laws. It aligns Vermont's personal income tax laws with federal laws as of December 31, 2024, and requires joint Vermont tax returns for those filing jointly at the federal level. The bill also modifies the earned income tax credit, Social Security income exclusion, and tobacco products tax. It increases the pay for property tax hearing officers and extends reimbursement to municipalities for state education property taxes abated due to flooding. The changes take effect on various dates, with some provisions retroactive to January 1, 2025.