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H.755

Introduced by   Representative Howard of Rutland City

Referred to Committee on

Date:

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

              CREDIT

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.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us