Instructions for Schedule BI-472 Vermont Non-composite - Vermont

This document contains official instructions for Schedule BI-472 , Vermont Non-composite - a form released and collected by the Vermont Department of Taxes.

FAQ

Q: What is Schedule BI-472?
A: Schedule BI-472 is a form used in Vermont for reporting non-composite business income.

Q: Who needs to fill out Schedule BI-472?
A: Businesses in Vermont that have non-composite business income need to fill out Schedule BI-472.

Q: What is non-composite business income?
A: Non-composite business income refers to income that is derived from activities that are not subject to corporate income tax in Vermont.

Q: Do all businesses in Vermont need to file Schedule BI-472?
A: No, only businesses that have non-composite business income need to file Schedule BI-472.

Q: When is the deadline for filing Schedule BI-472?
A: The deadline for filing Schedule BI-472 is generally the same as the deadline for filing your Vermont tax return, which is usually April 15th.

Q: Are there any penalties for not filing Schedule BI-472?
A: Yes, if you are required to file Schedule BI-472 and fail to do so, you may be subject to penalties and interest.

Q: Do I need to attach any supporting documents to Schedule BI-472?
A: Depending on your individual circumstances, you may need to attach supporting documents such as federal tax returns or other financial statements.

Q: Can I get help with filling out Schedule BI-472?
A: Yes, you can seek assistance from tax professionals or contact the Vermont Department of Taxes for guidance on filling out Schedule BI-472.