Introduced by Representative Howard of Rutland City
Subject: Taxation; income tax; active duty credit
Statement of purpose: This bill proposes to provide an income tax credit to anyone who has served on active duty for at least 60 days.
AN ACT RELATING TO ACTIVE DUTY INCOME TAX CREDIT
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. 32 V.S.A. § 5827 is added to read:
§ 5827. ACTIVE DUTY AND SURVIVING SPOUSE INCOME TAX
A taxpayer of this state shall be eligible for a nonrefundable credit of $300.00 against the tax imposed under section 5822 of this title if the taxpayer served in the United States armed forces on active duty for at least 60 days during the taxable year or if the taxpayer’s spouse was killed on active duty in the United States armed forces during the taxable year.
Sec. 2. EFFECTIVE DATE
This act shall apply to taxable years beginning on or after January 1, 2006.
The Vermont General Assembly
115 State Street