Reminder | Review and Feedback, Questions on New Tax Laws Impacting Vermont Manufacturers and Other Businesses

As noted at the end of the session, the Legislature has passed legislation implementing several long standing priorities to improve the tax environment for manufacturers and other businesses in Vermont that AIV has been leading efforts on over recent years.  S.53 includes provisions adopting single sales factor apportionment for corporate income tax liability as well […]

Economic Recovery Bridge Program Set to Close June 15

The Economic Recovery Bridge Program (click here), a pandemic relief grant that opened in 2021 for businesses that suffered a tax loss owing to COVID-19, will sunset as of June 15. At that time, the application portal will no longer be accessible to new or returning users. Those who wish to complete active applications currently in […]

Compensation Trends in Manufacturing

The following is provided in cooperation with our national partners and allies at the Manufacturing Institute: In data and conversations, manufacturers continue to recount the difficulties that they are having with attracting and retaining workers. Compensation practices have needed to adapt – sharply for some companies – considering the local and national competition for workers, […]

Vermont Internship Program Grant Application Now Available

The Vermont Department of Labor is now accepting applications for the 2022 Vermont Internship Program. Funded by VDOL, the program will award $400,000 to eligible organizations. Click here for more. What is the Vermont Internship Program? The Vermont Internship Program promotes internships by providing grants to organizations that support or connect Vermont employers with student-interns […]

SBA Loan Clinic

The Small Business Administration is hosting a free webinar at 12:00 on June 1 about its guaranteed loan programs. SBA guarantees loans making it easier for small businesses to get the funding by reducing lender risk. Funds can be used for most business purposes, including long-term fixed assets and operating capital. Amounts range from $500 […]

Corporate Tax Reform Passes the Legislature and Awaits Governor’s Action, Key Manufacturing Provisions Included

The House and Senate conference committee negotiating a final version of S.53 reached an agreement for the bill addressing corporate income tax reform.  Both chambers have now passed the final bill and we are now awaiting the Governor’s action.  The bill includes the most impactful provision, adopting single sales factor apportionment, that had been removed […]

Clarification and Expansion of the Sales Tax Exemption for Manufacturing Machinery and Equipment Near Final Passage in the Legislature

Clarification and expansion of Vermont’s sales tax exemption for manufacturing machinery and equipment, another long standing tax priority for AIV, is near final passage in the Legislature.  Provisions addressing several shortcomings in Vermont’s current law were included by the Senate Finance Committee in this year’s technical tax bill, H.738.  Although this legislation traditionally addresses technical […]

Economic Development Bill Passes Legislature, Includes Aid and Incentives for Employers and Employees

The final conference report for S.11, which became the latest and last vehicle for attaching a wide range of economic development and other provisions that have evolved over this session,  has passed the Legislature and is awaiting the Governor’s action.  It includes a number of provisions intended to help certain employers and employees.  Unfortunately it […]

Corporate Tax Reform:  Setback for Manufacturers, but Opportunities Remain

The Senate Finance Committee this Thursday delivered a setback to corporate tax reform benefiting Vermont-based manufacturers and other exporters of goods.  However, AIV continues to work toward enacting these reforms this year, and engagement by Vermont employers will be very important in achieving this goal. The Committee has been working on S.53.  The House passed […]

Clarification and Expansion of Manufacturing Machinery and Equipment Sales Tax Exemption Back on the Table?

The Senate Finance Committee Thursday revisited legislation passed by the House last year, H.437, that includes an important provision clarifying and expanding Vermont’s sales tax exemption for manufacturing machinery and equipment.  This has been a long-standing priority for AIV.  Although the Committee only had a preliminary review of H.437 this week, it is hoped that […]