MONTPELIER — H. 491, a bill that would finalize the separation of the Village of Essex Junction from the Town of Essex, is now in the hands of the Vermont
Don t miss the big stories. Like us on Facebook.
MONTPELIER â A bill proposing to extend the stateâs 6 percent sales tax to cloud computing services is scheduled to be considered by the Vermont House of Representatives on Thursday, and proponents say the resulting revenue will in turn pay for a corporate tax code overhaul that will benefit businesses in the long run.
The bill, which passed out of the House Ways & Means Committee Tuesday, also shifts corporate tax liability to gross receipts rather than property and payroll, said state Rep. Emilie Kornheiser, D-Windham 2-1, the committeeâs vice chair.
According to a Legislative Joint Fiscal Office preliminary estimate, adding cloud computing to the sales tax, which would take effect June 1, 2022, would net $10.9 million in revenue in fiscal 2023, $12.3 million in fiscal 2024 and $13.9 in fiscal 2025.