Vermont S0312 proposes a refundable machinery and equipment investment tax credit, extending its availability until 2034.

Vermont S0312 amends the corporate income tax credit for investments in machinery and equipment, making it refundable and removing the cap on how much it can reduce income tax liability in a year. The bill allows taxpayers to elect to have up to $500,000 of the excess credit refunded, with any remaining credit carried forward to reduce tax liability in future years. The credit is available for qualified capital expenditures starting on or after January 1, 2012, and extends until 2034.

Vermont S0312 proposes a refundable machinery and equipment investment tax credit, extending its availability until 2034.

Vermont S0312 amends the corporate income tax credit for investments in machinery and equipment, making it refundable and removing the cap on how much it can reduce income tax liability in a year. The bill allows taxpayers to elect to have up to $500,000 of the excess credit refunded, with any remaining credit carried forward to reduce tax liability in future years. The credit is available for qualified capital expenditures starting on or after January 1, 2012, and extends until 2034.