Drake Tax – 2024 Form Availability and Tax Changes: Vermont

Article #: 20046

Last Updated: January 20, 2025

 

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Supported Forms

The following Vermont forms are supported in Drake Tax 2024. Forms denoted with e-Sign icon can be e-signed.

Note  Dates shown below are estimates based on the most up-to-date information currently available to Drake Software.

We are committed to meeting or exceeding the delivery dates listed; however, there may be additional factors that could impact the final date. The chart will be updated as new information becomes available.

Chart key:

t Form is supported in the indicated return type.

P Form is available for e-file / paper file.

r Form is not supported for e-file / paper file.

MM/DD Estimated availability date.

The chart may not be displayed as expected on mobile devices.

Form Description IND CRP SCRP PTR FID e-File Paper File
176 Statement of Claimant to Refund Due on Behalf of Deceased Taxpayer t         P 2/07
8879-VT e-Sign icon Individual Income Tax Declaration for Electronic Filing t         P 2/07
8879-VT-C Corporate or Business Income Tax Declaration for Electronic Filing   t t t   2/07 2/07
8879-VT-F Fiduciary Income Tax Declaration for Electronic Filing         t 2/07 2/07
BA-403 Application for Extension of Time to File Vermont Corporate/Business Income Tax Returns   t t t   3/07 3/07
BI-470 Business Income Tax Return Payment Voucher     t t   2/07 2/07
BI-471 Business Income Tax Return     t t   2/07 2/07
BI-476 Business Income Tax Return for Resident Only     t t   2/07 2/07
CO-411 Vermont Corporate Income Tax Return   t       2/07 2/07
CO-414 Corporate Estimated Tax Payment Voucher   t       r 2/07
CO-422 Corporate Income Tax Return Payment Voucher   t       r 2/07
FIT-160 Fiduciary Income Tax Return Payment Voucher         t r 2/07
FIT-161 Fiduciary Return of Income         t 2/07 2/07
FIT-165 Fiduciary Estimated Tax Payment Voucher         t r 2/07
FIT-168 Application for Extension of Time to File Fiduciary Tax Return         t 3/21 3/21
HS-122 Vermont Homestead Declaration and Property Tax Credit Claim t         1/24 1/24
HS-122W Vermont Homestead Declaration and/or Property Tax Credit Withdrawal t         1/24 1/24
IN-111 Vermont Income Tax Return t         P 2/07
IN-114 Vermont Individual Income Estimated Tax Payment Voucher t         P 2/07
IN-116 Income Tax Payment Voucher t         P 2/07
IN-151 Vermont Application for Extension of Time to File Form IN-111 t         P 2/07
LC-140 Landlord Certificate t         P 2/07
PA-1 Special Power of Attorney t t t t t r 3/07
RCC-146 Renter Credit Claim t         P 2/07
Schedule BA-402 Apportionment & Allocation   t       P 2/07
Schedule BA-404 Credits Earned, Applied, Expired, Carried Forward   t t t   P 3/07
Schedule BA-405 Economic Advancement Tax Incentives (EATI)   t       3/07 3/07
Schedule BA-406 Credit Allocation     t t   3/07 3/07
Schedule BI-472 Vermont Non-Composite     t t   2/07 2/07
Schedule BI-473 Vermont Composite     t t   3/07 3/07
Schedule BI-477 Vermont Income Adjustment Calculation: Pass-Through Nonresident     t t   2/07 2/07
Schedule FIT-162 Capital Gains Exclusion Calculation for Estates or Trusts         t 3/21 3/21
Schedule FIT-166 Income Adjustments and Tax Computations for Fiduciaries         t 3/07 3/07
Schedule FIT-167 Credit for Tax Paid to Another State or Canadian Province for Fiduciaries         t 3/21 3/21
Schedule FIT-K-1VTF Beneficiary Information for Fiduciaries         t 2/07 2/07
Schedule HI-144 Household Income t         P 2/07
Schedule IN-112 Tax Adjustments and Credits t         P 2/07
Schedule IN-113 Income Adjustment Calculations t         P 2/07
Schedule IN-117 Credit for Income Tax Paid to Other State or Canadian Province t         P 2/07
Schedule IN-119 Tax Adjustments and Nonrefundable Credits t         P 2/07
Schedule IN-153 Capital Gain Exclusion Calculation t         P 2/07
Schedule K-1VT Shareholder, Partner, or Member Information     t t   P 2/07
WH-435 Estimated Income Tax Payments     t t   r 2/07
Worksheet IN-152 Underpayment of Estimated Individual Income Tax t         P 2/07
Worksheet IN-152A Annualized Income Installment Method for Underpayment of Estimated Tax by Individual, Estates, and Trusts t         P 2/07

Obsolete Form

Schedule BA-410, Corporate and Business Income Tax Affiliation

Tax Law Changes

  • Adoption of Federal Tax Laws — Vermont has adopted federal tax laws as of December 31, 2023, which means the Vermont tax code is now based on federal law effective retroactively to January 1, 2024.

  • Local Option Tax (LOT) — All municipalities in Vermont are now permitted to enact a Local Option Tax.

  • Machinery and Equipment Tax Credit — The time period to claim this credit has been extended until 2030.

  • Sales and Use Tax — The Sales and Use Tax exemption for advanced wood boilers has been extended until 2027. Additionally, the Sales and Use Tax now applies to casual sales of all-terrain vehicles (ATVs).