iCalculator™ VT (US)"Informing, Educating, Saving Money and Time in Vermont"
US Tax 2024

iCalculator™ US: Vermont Tax Calculators

Welcome to iCalculator™ US, your comprehensive suite of free tax calculators for Vermont. iCalculator™ has provided free tax calculators for Vermont since 2014. Since those early days we have extended our resources for Vermont to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. View all tax calculators and tools in the Vermont Tax Hub or use the Vermont Tax Calculator for 2024 (2025 Tax Return).

Vermont Tax Calculator 2024
*** Please enter your income ***
Advanced Vermont Salary Calculator 2024
FICA (Federal Insurance Contributions Act):
Itemized Deductions:
Retirement Plan Contributions:
About you:
About your spouse (complete if Married filing Jointly:
Local Taxes and Additional Taxes:
Additional Vermont State Tax Deductions and Credits:
Additional Federal Tax Deductions and Credits:
Work Time Settings [for fine tune computation of hourly rates etc.]:
Rate and Share, Show you Care 😊 Your feedback and support helps us keep this resource FREE for all to use, thank you.
[ 59 Votes ]

Vermont Tax Calculator 2024/25

The Vermont Tax Calculator is for the 2024 tax year which means you can use it for estimating your 2025 tax return in Vermont, the calculator allows you to calculate income tax and payroll taxes and deductions in Vermont. This includes calculations for

  1. Employees in Vermont to calculate their annual salary after tax.
  2. Employers to calculate their cost of employment for their employees in Vermont.

The Vermont Tax Calculator for 2024 encompasses a comprehensive suite of features to cater to your tax calculation needs. Key features include detailed calculations for Federal Income Tax based on the latest tax tables and allowances, FICA contributions covering both Social Security and Medicare, and automatic calculations for the Earned Income Tax Credit (EITC). Additionally, it allows for the consideration of retirement plan contributions, including 401(k), 403(b), SARSEP, and 457 plans, as well as SIMPLE plans, with specific limits for 2024. The calculator also supports Schedule A (Form 1040) for Federal Itemized Deductions, local tax calculations, and the inclusion of additional taxes or deductions.

For those seeking a deeper understanding and more detailed information on these features, including how they apply to your individual tax situation, it's recommended to view the comprehensive instructional overview here. This additional resource provides extensive insights into each feature, ensuring you can maximize your tax deductions and credits effectively for the 2024 tax year.

Discover Vermont, United States

Vermont, situated in the northeastern region of the United States, is part of the New England area. It is bordered by Canada to the north, New Hampshire to the east, Massachusetts to the south, and New York to the west. Vermont's landscape is predominantly rural, characterized by the Green Mountains running through the middle of the state. Its scenic beauty contributes significantly to its cultural and economic identity. Explore more about Vermont's neighbors: New Hampshire, Massachusetts, and New York.

Cultural Aspects

Vermont is known for its strong cultural traditions in arts, crafts, and music. The state has a rich history of environmentalism and is known for its progressive politics. Vermont’s cultural heritage is deeply connected to its natural landscapes, with a strong emphasis on outdoor activities like skiing, hiking, and leaf-peeping during the spectacular fall foliage season. The state is also famous for its unique products like maple syrup, cheese, and craft beers, which are integral to its cultural identity.

Economic Overview

The economy of Vermont is diverse, with key sectors including manufacturing, healthcare, education, and tourism. The state is a leading producer of maple syrup in the United States and has a strong agricultural sector, with dairy farming being particularly significant. Manufacturing, although a smaller portion of the economy, includes the production of electronics, machine products, and printing.

Tourism is a major contributor to Vermont's economy, driven by the state's natural beauty, ski resorts, and outdoor recreation opportunities. The state also has a burgeoning tech sector, particularly in software development and renewable energy. Vermont’s economy, while diverse, remains closely tied to its natural resources and cultural heritage, making it unique in the American economic landscape.

Overview of Taxation in Vermont, United States

The tax system in the United States comprises both federal and state-level taxes. This overview focuses on the state tax system in Vermont, shedding light on the various types of state taxes and their compliance requirements, while not including specific tax rates.

State Taxes in Vermont

Vermont's tax system encompasses several types of state taxes that impact individuals and businesses. Understanding these taxes is crucial for compliance and effective financial planning within the state.

1. Income Tax

Vermont imposes a personal income tax on its residents. The state employs a progressive tax structure with rates that increase with higher income levels. Residents need to be aware of their tax bracket for accurate tax filing and planning.

2. Sales Tax

The state levies a sales tax on the purchase of most goods and some services. Vermont's sales tax rate is uniform throughout the state, but certain items may be exempt or taxed at a different rate.

3. Property Tax

Property tax in Vermont is a significant source of revenue for local governments. These taxes, based on property assessments, fund essential services such as education, public safety, and infrastructure projects.

4. Corporate Income Tax

Businesses in Vermont are subject to corporate income tax. This tax is based on the income generated by corporations within the state. Compliance with corporate tax regulations is vital for business operations.

Compliance and Reporting

Compliance with Vermont's tax laws involves understanding the filing requirements and deadlines for each type of tax. Accurate reporting and timely payment are essential to avoid penalties and interest charges. Vermont offers various resources to assist individuals and businesses in understanding their tax obligations and navigating the filing process.