Vermont Governor Signs Law on Income Tax Exclusions, Credits

The Vermont Governor signed a law relating to income tax exclusions and tax credits. The law includes: 1) creating a refundable unpaid caregiver tax credit of up to $1,000 per year, for Vermont residents providing at least 20 hours per week of uncompensated care to a related individual with a disability or health condition; 2) expanding eligibility for the existing child tax credits and EITC to those without taxpayer identification numbers; 3) increasing income limits for excluding social security income, civil service retirement income, and other retirement income from Vermont taxable income; and 4) creating a new $250 refundable tax ...