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Types of Taxes Collected. The Vermont Department of Taxes collects a number of different tax types, such as personal income, corporate and business income, sales and use, meals and rooms, and property tax, to name just a few of the major taxes.
The major types of local taxes collected in Vermont include income, property, and sales taxes. These taxes are collected to provide essential state functions, resources, and programs, to benefit both our taxpayers, and Vermont at large.
Some provide an in-depth understanding of specific types of taxes. They are published at varying intervals, ranging from monthly to every other year. Much of the information presented in most of the reports takes the form of statistical tables.
Taxation in Vermont. The Vermont Department of Taxes serves Vermonters by collecting about 30 state tax types to pay for the goods and services people receive from the state. In addition to personal, business, and corporate income taxes, Vermont raises tax revenue through sales and use tax, meals and rooms tax, property tax, and other smaller ...
Vermont has a 32.61 cents per gallon gas tax rate and a $3.08 cigarette excise tax rate. The State of Vermont collects $7,527 in state and local tax collections per capita. Vermont has $7,299 in state and local debt per capita and has a 63 percent funded ratio of public pension plans.
Vermont has four state specific tax brackets and rates established in 2018. From 2002 to 2018, the State had five tax brackets. Prior to 2002, Vermont individual income tax as calculated as a percentage of federal tax liability.
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Who administers state taxes in Vermont?
Vermont has three major funds into which most tax revenue is deposited; the General Fund, the Transportation Fund and the Education Fund. There are also a number of special funds. The revenue from the tax sources described below are dedicated to the General Fund unless otherwise indicated.
