Personal Income Tax in Vermont

April 13, 2006

	Visited: 117
	Not rated
	Rate:

If you are a resident or nonresident of Vermont and receive taxable income individually from property owned or business transacted in Vermont, you are subject to tax on net income. Therefore, if you are operating your business as an S corporation, partnership, limited liability company, or sole proprietorship, you will be subject to a personal income tax on your business income that passes through to you.

The following income tax rates apply for 2006:

Single Individuals
Taxable Income	Amount of Tax
Up to $30,650	3.6% of taxable income
Over $30,650 to $74,200	$1,103 plus 7.2% of excess over $30,650
Over $74,200 to $75,000	$4,239 plus 8.5% of excess over $74,200
Over $75,000 to $154,800	$4,307 plus 8.5% of excess over $75,000
Over $154,800 to $336,550	$11,090 plus 9% of excess over $154,800
Over $336,550	$27,448 plus 9.5% of excess over $336,550

Married Filing Jointly and Qualifying Widow(er)
Taxable Income	Amount of Tax
Up to $51,200	3.6% of taxable income
Over $51,200 to $75,000	$1,843 plus 7.2% of excess over $51,200
Over $75,000 to $123,700	$3,557 plus 7.2% of excess over $75,000
Over $123,700 to $188,450	$7,063 plus 8.5% of excess over $123,700
Over $188,450 to $336,550	$12,567 plus 9% of excess over $188,450
Over $336,550	$25,896 plus 9.5% of excess over $336,550

Married Filing Separately
Taxable Income	Amount of Tax
Up to $25,600	3.6% of taxable income
Over $25,600 to $61,850	$922 plus 7.2% of excess over $25,600
Over $61,850 to $75,000	$3,532 plus 8.5% of excess over $61,850
Over $75,000 to $94,225	$4,649 plus 8.5% of excess over $75,000
Over $94,225 to $168,275	$6,283 plus 9% of excess over $94,225
Over $168,275	$12,948 plus 9.5% of excess over $168,275

Heads of Households
Taxable Income	Amount of Tax
Up to $41,050	3.6% of taxable income
Over $41,050 to $75,000	$1,478 plus 7.2% of excess over $41,050
Over $75,000 to $106,000	$3,922 plus 7.2% of excess over $75,000
Over $106,000 to $171,650	$6,154 plus 8.5% of excess over $106,000
Over $171,650 to $336,550	$11,734 plus 9% of excess over $171,650
Over $336,550	$26,575 plus 9.5% of excess over $336,550