2002SSRN Electronic JournalOpen access

Vermont's State Income Tax in 2002: A Decisionmaking Framework

Arthur G. Woolf

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Abstract

Arthur Woolf ponders Vermont's problems in deciding whether to continue to base its income tax on a percentage of federal liability and to lose revenue as a result of the 2001 federal income tax changes. The report considers whether to base the tax on federal adjusted gross income or federal taxable income, or whether to continue to base the tax on federal liability.

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Arthur Woolf ponders Vermont's problems in deciding whether to continue to base its income tax on a percentage of federal liability and to lose revenue as a result of the 2001 federal income tax changes. The report considers whether to base the tax on federal adjusted gross income or federal taxable income, or whether to continue to base the tax on federal liability.

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Available abstract

Arthur Woolf ponders Vermont's problems in deciding whether to continue to base its income tax on a percentage of federal liability and to lose revenue as a result of the 2001 federal income tax changes. The report considers whether to base the tax on federal adjusted gross income or federal taxable income, or whether to continue to base the tax on federal liability.

Key concepts: Taxable income, State income tax, Gross income, Adjusted gross income, Income tax, Public economics, International taxation, Liability

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