Photo from State Street in Montpelier on July 12, by Beth Rusnock/National Life Group.
Vermont Business Magazine Governor Phil Scott today directed the Commissioner of Taxes to extend Vermont tax deadlines for Vermonters impacted by the severe flooding of July 2023. Taxpayers impacted by flooding and unable to meet Vermont tax deadlines between July 7, 2023, and November 15, 2023, will now have until November 15, 2023, to file and pay taxes.
“We know many Vermonters are facing significant hardship following the catastrophic flooding we experienced,” said Governor Scott. “My team is working hard to identify creative ways the State can help fill the gap and offer relief. This is one step, and we will announce further action in the coming days.”
Taxpayers impacted by the flood do not need to contact the Department of Taxes to request extensions for the tax types listed below. Due dates between July 7, 2023 and November 15, 2023 will automatically be extended for taxpayers impacted by the flooding for:
- Corporate and business income tax, including estimated payments
- Sales and use tax
- Meals and rooms tax
- Payroll withholding tax
- Estimated personal income tax payments, originally due September 15, 2023
- Filing of 2022 Vermont personal income taxes with a valid federal or Vermont extension
Those with Vermont tax obligations beyond what is listed above, due between July 7 and November 15, 2023, can request extensions by contacting the department’s Taxpayer Services Division for assistance. Note that in some cases, the department may ask for proof of hardship to grant extensions.
The tax relief summarized above is for those impacted by July’s severe flooding. Taxpayers not impacted by the flood are expected to file and pay taxes by their original due dates.
In response to the national disaster declaration for Vermont, the Internal Revenue Service (IRS) has also extended deadlines to file and pay certain federal taxes for Vermont residents and businesses impacted by the flooding. Please refer to the IRS guidance for details about federal tax relief.
Also at his press conference, held at the Agency of Transportation facility in Berlin, the governor said that the FEMA money is coming in quickly but is only for individuals and infrastructure, not businesses.
Vermont FEMA coordinating officer William Roy said that while President Biden's disaster declaration was only issued last Friday, homeowners were already getting checks on Monday. More than $700,000 has already been distributed and the average check has been about $6,100. FEMA has over 300 personnel on the ground in Vermont assessing damage.
"We're here for the long haul," Roy said.
Scott said that they are "turning over every stone" looking for funding for businesses, both for those directly impacted and ultimately for the impact on the state's economy during the usually busy tourism season. He acknowledged that once the state gets up and running that marketing would be renewed to let visitors that the state is open for business.
"It's in our own best interest to help businesses recover," Scott said.
While he would work with the Legislature on finding ways to help businesses recover financially, "We don't have the resources to make them whole." He said Congress and the president will likely have to help out with funding and he will work with the congressional delegation to make that happen.
Scott added that the Emergency Board was to meet at the end of July to review tax revenues. That meeting has been postponed. But it will happen soon, and the administration and state economists will review finances in light of the flooding and impact on the economy.
Watch Governor Scotts press conference July 19, 2023, below.
Source: 7.19.2023. Governor. Berlin, Vt. - www.vermont.gov
