Vermont H0620 establishes a Wealth Tax Commission to study wealth and investment gains taxation.

Vermont H0620 creates the Wealth Tax Commission to study the taxation of wealth and investment gains that currently escape income taxation. The Commission will include legislative members, revenue agency staff, academic and legal experts, and the Multistate Tax Commission. It will examine policy considerations, implementation recommendations, and interstate cooperation. The Commission will submit a report by November 1, 2027, addressing legal considerations, residency criteria, asset valuation, and best practices from other states. The Commission will cease to exist on July 1, 2028.

Vermont H0620 establishes a Wealth Tax Commission to study wealth and investment gains taxation.

Vermont H0620 creates the Wealth Tax Commission to study the taxation of wealth and investment gains that currently escape income taxation. The Commission will include legislative members, revenue agency staff, academic and legal experts, and the Multistate Tax Commission. It will examine policy considerations, implementation recommendations, and interstate cooperation. The Commission will submit a report by November 1, 2027, addressing legal considerations, residency criteria, asset valuation, and best practices from other states. The Commission will cease to exist on July 1, 2028.