Vermont Income Tax Calculator (2024)

Estimate your take-home pay and all taxes in Vermont for 2024!
Vermont has a progressive state income tax system with five tax brackets ranging from 3.35% to 8.75%. This calculator provides a fast, accurate breakdown of your federal, state, and FICA taxes, including deductions, dependents, and pay frequency. Instantly see your annual and per-paycheck results, interactive charts, and a transparent calculation process.
This tool gives you clarity on your net pay and tax obligations. Updated for 2024 brackets and rules.

Vermont Income Tax Calculator

Calculating for Tax Year 2024

Understanding Vermont Taxes (2024)

Calculating your Vermont taxes involves state, federal, and FICA taxes. This calculator helps you estimate your take-home pay by considering these key components.

Vermont Income Tax Structure

Vermont has a progressive income tax system with five tax brackets ranging from 3.35% to 8.75% for 2024. Vermont uses the same tax brackets for all filing statuses and generally follows federal tax guidelines for deductions.

2024 Vermont Tax Brackets (all filing statuses):

  • 3.35% on income between $0 and $43,750
  • 5.2% on income between $43,751 and $105,950
  • 6.4% on income between $105,951 and $218,000
  • 6.6% on income between $218,001 and $262,400
  • 8.75% on income over $262,401

Vermont Deductions and Exemptions

For 2024, Vermont follows the federal standard deduction amounts:

  • Single: $13,850
  • Married Filing Jointly: $27,700
  • Head of Household: $20,800
  • Married Filing Separately: $13,850

Vermont also provides a personal exemption of $4,700 for each taxpayer and dependent.

Vermont Tax Credits

Vermont offers several tax credits, including:

  • Earned Income Tax Credit: 38% of the federal EITC
  • Child and Dependent Care Expenses Credit: Provides a credit for qualifying childcare expenses
  • Credit for Income Taxes Paid to Another State: For Vermont residents who earn income in and pay taxes to other states

Federal Income Tax

Federal income tax is based on federal tax brackets, your filing status, deductions, and W-4 allowances. Pre-tax deductions like 401(k) or HSA contributions reduce your federal taxable income.

FICA Taxes

FICA taxes fund Social Security and Medicare.

  • Social Security: 6.2% on income up to $168,600 for 2024.
  • Medicare: 1.45% on all income, with an additional 0.9% on income above certain thresholds.

Other Vermont Taxes

  • Sales Tax: Vermont has a 6% state sales tax rate. An additional 1% local option tax may apply in some areas, bringing the total to 7%.
  • Property Tax: Property taxes in Vermont are a significant source of funding for local services and schools. Rates vary by municipality and property type.
  • No Estate or Inheritance Tax: Vermont does not impose its own estate or inheritance tax.

Disclaimer: This information is for general guidance for the 2024 tax year and is not tax advice. Consult a tax professional for personalized advice.