Vermont H0759 proposes a flat income tax, replacing various existing taxes, and includes provisions for tax credits, relief for low-income.

Vermont H0759 introduces a flat income tax system to replace several existing tax types, including personal and corporate income tax, sales and use tax, property tax, and estate tax. The bill imposes a flat income tax rate of 13% on individuals, estates, and trusts, with adjustments for inflation. It also includes provisions for tax credits, such as a refundable credit for low-income residents and a credit for small businesses with pass-through income.

Vermont H0759 proposes a flat income tax, replacing various existing taxes, and includes provisions for tax credits, relief for low-income.

Vermont H0759 introduces a flat income tax system to replace several existing tax types, including personal and corporate income tax, sales and use tax, property tax, and estate tax. The bill imposes a flat income tax rate of 13% on individuals, estates, and trusts, with adjustments for inflation. It also includes provisions for tax credits, such as a refundable credit for low-income residents and a credit for small businesses with pass-through income.