Vermont Proposes To Withdraw From SST Agreement & Reduce Tax Rate

Legislation introduced in the Vermont House of Representatives, H.B. 564, on January 8, 2008, proposes to withdraw the state from the Streamlined Sales Tax Agreement, effective January 1, 2009. Vermont became a full member on January 1, 2007. In addition, the bill also proposes to repeal most sales and use tax exemptions, including the repeal of food exemption, extend the sales tax to services and groceries, exempt items priced at $10.00 or less, lower the rate from 6% to 1%, and require a supermajority vote to increase the rate. (H.B. 564, as introduced in the Vermont House of Representatives on January 8, 2008)

Posted on April 9, 2008