Vermont R&D Tax Credit Summary

VERMONT R&D TAX CREDIT SUMMARY

Vermont State R&D Tax Credit

Effective for eligible research and development expenditures made in Vermont on or after January 1, 2014, taxpayers are eligible for a credit equal to 27% (formerly 30%).

How to Obtain the Credit?

File Form BA-404.

Refundable/Transferable Tax Credit – No

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    Carryforward

    Any excess credit not used for the taxable year in which it is earned may be carried forward for up to 10 years.

    Flow-Through Entities

    This credit can be applied to personal income tax.

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