Vermont Department of Taxes Announces Collecting Child Care Contribution Tax

The Vermont Department of Taxes May 6 announced collecting the child care contribution tax from employers and self-employed individuals beginning July 1 through Sep. 30. The announcement includes: 1) that employers will pay a 0.44 percent payroll tax on wages paid, with an option to withhold up to 25 percent of the tax from employees; and 2) that self-employed individuals will pay a 0.11 percent tax on self-employment income. [Vt. Dep’t of Taxes, Press Release, 05/06/24]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.