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Vermont VT Credit for Income Tax Paid to Other State or Canadian Province
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Extracted from PDF file 2023-vermont-form-in-117.pdf, last modified November 2022VT Credit for Income Tax Paid to Other State or Canadian Province
Vermont Department of Taxes 2023 Schedule IN-117 *231171100* Vermont Credit for Income Tax Paid to Other State or Canadian Province INCLUDE WITH FORM IN-111 * 2 3 1 1 7 1 1 0 0 * Please PRINT in BLUE or BLACK INK For Residents and Some Part-Year Residents ONLY. You must complete a separate Schedule IN-117 for each state or Canadian province and include a copy of the other state return(s). Please see instructions. Taxpayer’s Last Name First Name MI Taxpayer’s Social Security Number 1. Name of state or Canadian province. Use standard two-letter abbreviation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1. _________ 2. Enter Adjusted Gross Income taxed in another state or Canadian province that is also subject to Vermont income tax. This entry cannot be more than the entry on Form IN-111, Line 1. (If less than zero, enter -0-). . . 2. __________________________ .00 3. 2023 Bonus Depreciation addback taxed in another state or Canadian province AND taxed in Vermont.. . . . . . . . . . . . . . . . . . 3. __________________________ .00 4. Non-Vermont state/local obligations taxed in another state or Canadian province AND taxed in Vermont. . . . . . . . . . . . . . . . 4. __________________________ .00 5. ADD Lines 2 through 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. _________________________ .00 6. Bonus Depreciation subtracted from income in another state or Canadian province in tax year 2023. . . . . . . . . . . . . . . . . . . . . . 6. __________________________ .00 7. U.S. Government interest income subtracted from income in another state or Canadian province in tax year 2023. . . . . . . . . . . 7. __________________________ .00 8. ADD Lines 6 and 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. _________________________ .00 9. Modified Adjusted Gross Income for income taxed in another state or Canadian province AND taxed in Vermont (SUBTRACT Line 8 from Line 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. _________________________ .00 10. Adjusted Gross Income from Form IN-111, Line 1. (If less than zero, enter -0-). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10. __________________________ .00 11. Non-Vermont state/local obligations from Schedule IN-112, Part I, Line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . 11. __________________________ .00 12. Bonus Depreciation from Schedule IN-112, Part I, Line 4. . . . . . 12. __________________________ .00 13. ADD Lines 10 through 12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13. _________________________ .00 14. U.S. Government interest income from Schedule IN-112, Part I, Line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . 14. __________________________ .00 15. Bonus Depreciation from Schedule IN-112, Part I, Line 9. . . . . . 15. __________________________ .00 16. ADD Lines 14 and 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16. _________________________ .00 17. SUBTRACT Line 16 from Line 13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17. _________________________ .00 18. Vermont income tax from Form IN-111, Line 14 . . . . . . . . . . . . 18. __________________________ .00 19. Computed tax credit (DIVIDE Line 9 by Line 17. MULTIPLY the result by Line 18.) Result cannot be more than 100% of Vermont tax. Line 9 x Line 18 Line 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19. _________________________ .00 20. Income tax paid to another state or Canadian province based on modified Adjusted Gross Income from Line 9 above. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20. _________________________ .00 21. VERMONT CREDIT for income tax paid to another state or Canadian province. Enter the lesser of Line 19 or Line 20. Also enter on Form IN-111, Line 17 . . . . . . . . . . . . . . . . . . . . . . . 21. _________________________ .00 Form IN-117 Page 1 of 1 Rev. 10/23 5454 Clear ALL fields Save and go to Important Printing Instructions Save and Print
Form IN-117
More about the Vermont Form IN-117 Individual Income Tax Tax Credit TY 2023
We last updated the VT Credit for Income Tax Paid to Other State or Canadian Province in February 2024, so this is the latest version of Form IN-117, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IN-117 directly from TaxFormFinder. You can print other Vermont tax forms here.
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TaxFormFinder has an additional 51 Vermont income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form IN-111 | Vermont Personal Income Tax Return |
| Form IN-114 | Individual Income Estimated Tax Payment Voucher |
| Form IN-116 | Income Tax Payment Voucher |
| Form HS-122 (Instructions) | Vermont Homestead Declaration AND Property Tax Credit Claim (Instructions) |
| Income Tax Instructions | Form IN-111 Income Tax Instructional Booklet |
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 IN-117 from the Department of Taxes in February 2024.
Form IN-117 is a Vermont Individual Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Vermont Form IN-117
We have a total of twelve past-year versions of Form IN-117 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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