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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionVermont
Jurisdiction type: State
Fiscal year ending In2019
Program nameVermont Employment Growth Incentive
Program purpose: Business attraction/retention/expansion
Statutory authority: 32 V.S.A. 3330
Abating jurisdiction(s): State of Vermont
Applicable taxesPersonal Income Taxes
Method of abatement: Tax refund
Provisions for recapture: For three years from the last day of the utilization period if the business experiences a 90% or greater reduction in base employment, or if the business fails to file required claim forms. In addition, if the business fails to meet its capital investment performance requirements by the end of the award period the abatements paid may be recaptured.
Gross revenue loss: $2,876,311
Reimbursement / offset: $0
Net revenue loss: $2,876,311
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://auditor.vermont.gov/reports/audit/financial