Interest and Dividends from Federal Tax-Exempt Bonds
Enter the total interest and dividend income received from all state and local obligations exempted from Federal tax.
Income from Vermont State Bonds and Obligations
Enter the interest and dividend income from Vermont State and local obligations. This may have been paid directly to you or through a mutual fund or other legal entity that invests in Vermont state and local obligations. If you receive this income from a mutual fund that has only a portion of its assets invested in Vermont state and local obligations, enter only the amount for the Vermont obligation(s).
Federal Bonus Depreciation
Vermont does not recognize the bonus depreciation allowed under federal law. Enter the difference between the depreciation calculated by standard MACRS methods and the depreciation calculated using the federal bonus depreciation for assets placed in service in 2018. Read Technical Bulletin 44 on the Vermont website for information on calculating the amount to add back to taxable income.