VT H0090

Vermont Earned Income Tax Credit increases from 38% to 55% of the federal credit for individuals with one or more qualifying children, and to 100% for individuals without qualifying children

Vermont Child Tax Credit and Earned Income Tax Credit payments are exempted from tax debt setoff under Vermont law or the laws of another state

Eligibility for the credits extends to individuals who would qualify for the federal earned income tax credit but for the fact that they, their spouse, or children lack a qualifying taxpayer identification number

Act takes effect retroactively on January 1, 2025 and applies to taxable years beginning on and after that date