A Vermont bulletin on nexus for corporate income tax is open to public comments. In addition, the bulletin includes rules for foreign business entities that do business in Vermont.
Corporate Income Tax Nexus
The Department of Taxes has released a draft technical bulletin which states that:
- substantial nexus does not require physical presence; and
- income tax nexus is established when a foreign corporation intentionally or regularly exploits Vermont’s market.
Foreign Business Entities
Also, the bulletin addresses foreign business entities and their:
- income tax filing requirements; and
- minimum payment requirements.
Vermont Nexus Public Comments
Public comments on the draft bulletin are due December 8, 2017.
Subscribers may view the draft and make comments at: http://tax.vermont.gov/public-comments.
Corporate and Business Income Tax Nexus, Filing Requirements, and Minimum Tax Liability, Vermont Department of Taxes, November 2017