Vermont Tax Department Issues Income Tax Information on Child Care Contribution

The Vermont Department of Taxes Oct. 1 issued information concerning the Child Care Contribution (CCC) for individual income and corporate income tax purposes. Act 76 of 2023, an act relating to child care and early childhood education, tasks the Department of Taxes with the implementation and administration of a new CCC, composed of a 0.44 percent payroll tax on wages and a 0.11 percent self-employment income tax. The department provides: 1) collection of the CCC shall begin on July 1, 2024; 2) employees have no CCC filing requirement; 3) individuals with self-employment income will remit and report CCC to the ...