Vermont: Budget bill includes conformity update
Vermont: Budget bill includes conformity update
PODCAST

VT: Budget bill includes conformity update

Vermont’s budget bill, which became law on July 2, 2018 without the Governor’s signature, includes a provision that updates the state’s conformity to the Internal Revenue Code.

Podcast Overview

Vermont’s budget bill, which became law on July 2, 2018 without the Governor’s signature, includes a provision that updates the state’s conformity to the Internal Revenue Code. Specifically, Vermont now adopts the statutes of the United States relating to the federal income tax as in effect on December 31, 2017, but without regard to federal income tax rates. The conformity update is effective retroactively on January 1, 2018 and applies to tax years beginning on or after January 1, 2017. Please stay tuned to TWIST for future conformity updates.

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