Instructions for Schedule BA-402 Vermont Apportionment & Allocation - Vermont

This document contains official instructions for Schedule BA-402 , Vermont Apportionment & Allocation - a form released and collected by the Vermont Department of Taxes.

FAQ

Q: What is Schedule BA-402?
A: Schedule BA-402 is a form used to report and calculate apportionment and allocation of income for businesses in the state of Vermont.

Q: Who needs to file Schedule BA-402?
A: Businesses that have income from both inside and outside of Vermont need to file Schedule BA-402 to determine the portion of their income that is subject to Vermont taxation.

Q: What is apportionment?
A: Apportionment is a method used to determine how much of a business's income is allocated to a specific state for tax purposes. It takes into account factors such as sales, payroll, and property in each state.

Q: What is allocation?
A: Allocation is the process of dividing a business's income between different states based on specific factors. It may be used when a business's income cannot be apportioned accurately.

Q: What information is needed to complete Schedule BA-402?
A: To complete Schedule BA-402, you will need information about your business's total income, as well as details about sales, payroll, and property in Vermont and other states.

Q: When is the deadline to file Schedule BA-402?
A: The deadline to file Schedule BA-402 is the same as the Vermont income tax return filing deadline, which is typically April 15th.

Q: Are there any penalties for not filing Schedule BA-402?
A: Yes, failing to file Schedule BA-402 or providing inaccurate information can result in penalties and interest charges.

Q: Do I need to file Schedule BA-402 if I don't have any income from outside of Vermont?
A: If your business only has income from within Vermont and no income from outside of the state, you do not need to file Schedule BA-402.