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Committee Hears Proposal to Make Manufacturer’s Unused Tax Credit Refundable
Summary
A committee member described a proposal to make a St. Johnsbury transformer-board manufacturer’s unused Vermont tax credit refundable at up to $500,000 per year beginning in 2027 to allow the company to use about $3.5 million in credits set to expire in 2026; the committee planned to seek company testimony.
An unidentified committee member described a proposal to make a manufacturer’s unused Vermont corporate tax credit refundable on a limited schedule so the company can realize roughly $3.5 million in credits before they expire. "What I proposed here is to make that tax credit ... refundable at no more than $500,000 a year,"…
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