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Vermont Business Income Tax Return
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Extracted from PDF file 2023-vermont-form-bi-471.pdf, last modified January 2024Business Income Tax Return
Clear ALL fields Vermont Department of Taxes *234711100* Form BI-471 * 2 3 4 7 1 1 1 0 0 * Vermont Business Income Tax Return for Partnerships, Subchapter S Corporations, and LLCs Check Appropriate Box(es) Name Change Composite Return Address Change Accounting Period Change Amended Return Initial Return Public Law 86-272 Applies Extended Return Pro Forma Cannabis Federal Extension Requested Final Return (Cancels Account) Entity Name FEIN Primary 6-digit NAICS number Address Tax year BEGIN date (YYYYMMDD) Tax year END date (YYYYMMDD) Address (Line 2) City State ZIP Code Foreign Country (if not United States) Federal tax return filed (Check one box) 1120S 1065 Other A. Were any shareholders, partners, or members nonresidents of Vermont during this tax year?. . . . . . . . . . . A. Yes No B. Did this entity have income or losses derived from at least one state other than Vermont? . . . . . . . . . . . . . B. If Yes, complete and attach Schedule BI-477. Yes No C. Net adjustment to income resulting from Vermont’s disallowance of “bonus depreciation” (IRC 168(k)). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . C. _________________________ .00 D. Total number of Shareholders, Partners, or Members . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D. _____________________________ E. How many are Vermont Residents?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E. _____________________________ F. How many are Nonresidents?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F. _____________________________ G. Check box if 32 V.S.A. § 5920(f), (g), or (h) applies (regarding nonresident estimated payments for affordable housing projects, federal new market tax credit projects, or publicly traded partnerships). Attach authorization or documentation. . . . . . . . . . . . . . . . . . . . . G. TAX COMPUTATION (see instructions): Check box if exception to minimum tax applies: NO VERMONT ACTIVITY / INACTIVE ($0) Enter all amounts in whole dollars. INVESTMENT CLUB § 5921 ($0) IRC § 761 ($0) 1. Vermont minimum entity tax ($250) or above exception (See instructions). . . . . . . . . . . . . . . . . . . . . . . . . 1. _________________________ .00 2. For non-composite entities 2a. Nonresident estimated payment requirement (Schedule BI-472, Line 6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2a. _________________________ .00 2b. Overpayment distributed to owners (ADD Schedule K-1VT, Lines 11 and 12 .from all schedules, then SUBTRACT amount from Schedule BI-472, Line 6) . . . . . . . . . . . . . . . . . . 2b. _________________________ .00 2c. ADD Lines 2a and 2b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2c. _________________________ .00 3. For composite entities, Vermont composite tax due (Schedule BI-473, Line 11). . . . . . . . . . . . . . . . . . . . . 3. _________________________ .00 4. Vermont apportionment of entity level taxes (See instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4. _________________________ .00 5. Use Tax for taxable items on which no sales tax was charged, including online purchases . . . . . . . . . . . . . 5. _________________________ .00 6. Total tax due (ADD Lines 1, 2c, 3, 4, and 5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6. _________________________ .00 5454 Form BI-471 Page 1 of 2, Rev. 10/23 *234711200* Entity Name FEIN Fiscal Year Ending (YYYYMMDD) * 2 3 4 7 1 1 2 0 0 * PAYMENTS AND CREDITS Enter all amounts in whole dollars. 7. Prior Year Overpayment Applied. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7. _________________________ .00 8. Payments with Extension (Form BA-403). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. _________________________ .00 9. Real estate withholding paid for this entity (Form REW-171, REW Schedule A) . . . . . . . . . . . . . . . . . . . . 9. _________________________ .00 10. Real estate withholding distributed to this entity by a different company (Schedule K-1VT, Line 12) . . . 10. _________________________ .00 11. Nonresident estimated payments paid by this entity (Form WH-435). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. _________________________ .00 12. Nonresident estimated payments distributed to this entity by a different company (Schedule K-1VT, Line 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. _________________________ .00 13. Total payments (ADD Lines 7 through 12) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13. _________________________ .00 RECONCILIATION 14. Balance Due: If Line 6 is greater than Line 13, subtract Line 13 from Line 6.. . . . . . . . . . . . . . . . . . . . . . 14. _________________________ .00 15. Payment included with this return. Make check payable to Vermont Department of Taxes. . . . . . . . . . 15. _________________________ .00 16. Overpayment: If Line 6 is less than the sum of Lines 13 and 15, ADD Lines 13 and 15, then SUBTRACT Line 6.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16. _________________________ .00 17. Overpayment to be credited to the next tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17. _________________________ .00 18. Overpayment to be refunded. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18. _________________________ .00 SIGNATURE I hereby certify that I am an officer or authorized agent responsible for the taxpayer’s compliance with the requirements of Vermont Statutes Annotated, Title 32, and that this return is true, correct, and complete to the best of my knowledge. If prepared by a person other than the taxpayer, this declaration further provides that under 32 V.S.A. § 5901, this information has not been and will not be used for any other purpose, or made available to any other person, other than for the preparation of this return unless a separate valid consent form is signed by the taxpayer and retained by the preparer. Signature of Responsible Officer Printed Name Date (MM/DD/YYYY) / Email Address (optional) Daytime Telephone Number / Check if the Vermont Department of Taxes may discuss this return with the preparer shown. Signature of Paid Preparer Preparer’s Printed Name Date (MM/DD/YYYY) / Email Address (optional) Firm’s Name (or yours if self-employed) / EIN Firm’s Address (or yours if self-employed) (Street, City, State, ZIP Code) 5454 Send return and check to: Vermont Department of Taxes 133 State Street Montpelier, VT 05633-1401 Preparer’s Telephone Number Preparer’s SSN or PTIN Check if self-employed For Department Use Only Ck. Amt. Init. Form BI-471 Page 2 of 2 Rev. 10/23
Form BI-471
More about the Vermont Form BI-471 Corporate Income Tax Tax Return TY 2023
We last updated the Business Income Tax Return in January 2024, so this is the latest version of Form BI-471, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form BI-471 directly from TaxFormFinder. You can print other Vermont tax forms here.
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| Form Code | Form Name |
|---|---|
| Form WHT-434 | Annual Withholding Reconciliation |
| Form BI-471 | Business Income Tax Return |
| Schedule K-1VT | Shareholder, Partner, Or Member Information |
| Form CO-411 | Corporate Income Tax Return |
| Form FIT-161 | Fiduciary Return of Income |
View all 52 Vermont Income Tax Forms
Form Sources:
Vermont usually releases forms for the current tax year between January and April. We last updated Vermont Form BI-471 from the Department of Taxes in January 2024.
Form BI-471 is a Vermont Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Vermont Form BI-471
We have a total of twelve past-year versions of Form BI-471 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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