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winter36
March 20, 2022
Question

Why does my state VT question for estimated taxes state $981.00 and then i continue and it states none required?

  • March 20, 2022
  • 1 reply
  • 0 views
VT estimated taxes are telling me none required?

1 reply

M
MayaD
March 23, 2022

Estimated income tax is the amount of Vermont tax you expect to owe for the year on income that is not subject to withholding. 

You must estimate your income tax and pay the tax each quarter if you:

  • do not have Vermont income tax withheld from your pay

  • do not have enough Vermont income tax withheld each pay period

  • have Vermont income not subject to withholding tax

For example, if you are self-employed, you should pay estimated income tax or if you receive a substantial income in the form of dividends or interest.

For more information, please check: Estimated payments

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