Instructions for Schedule IN-117 Vermont Credit for Income Tax Paid to Other State or Canadian Province - Vermont

This document contains official instructions for Schedule IN-117 , Vermont Credit for Income Other State or Canadian Province - a form released and collected by the Vermont Department of Taxes.

FAQ

Q: What is Schedule IN-117?
A: Schedule IN-117 is a form used in Vermont to claim a credit for income tax paid to another state or Canadian province.

Q: Who is eligible to use Schedule IN-117?
A: Vermont residents who have paid income tax to another state or Canadian province may be eligible to use Schedule IN-117.

Q: What information do I need to complete Schedule IN-117?
A: You will need a copy of your tax return from the other state or Canadian province, as well as any supporting documents.

Q: How do I calculate the credit on Schedule IN-117?
A: The credit is calculated based on the tax you paid to the other state or Canadian province, up to the amount of Vermont tax on the same income.

Q: Can I claim the credit for taxes paid to multiple states or Canadian provinces?
A: Yes, you can claim the credit for taxes paid to multiple states or Canadian provinces, but the total credit cannot exceed your Vermont tax liability on the same income.

Q: Is there a deadline to file Schedule IN-117?
A: Yes, Schedule IN-117 must be filed by the same deadline as your Vermont income tax return, usually April 15th.

Q: Can I e-file Schedule IN-117?
A: Yes, you can e-file Schedule IN-117 if you are filing your Vermont income tax return electronically.

Q: What should I do if I have questions or need help with Schedule IN-117?
A: If you have questions or need help, you should contact the Vermont Department of Taxes or consult a tax professional.