Answer
The Working Families Taxpayer Protection package was passed during the 2018 legislative session as part of Act 11 and went into effect on July 2, 2018. This act created a nonrefundable charitable contribution tax credit to be deducted from tax owed. Vermont taxpayers who take advantage of the credit may deduct five percent of the first $20,000 in eligible charitable contributions made during the taxable year from that year’s taxes. This law is retroactive to Jan. 1, 2018.
Accordion to apply to