Instructions for Form BI-471 Vermont Business Income Tax Return - Vermont

VT Form BI-471 Business Income Tax Return - Vermont

This document contains official instructions for Form BI-471 , Vermont Business Income Tax Return - a form released and collected by the Vermont Department of Taxes. An up-to-date fillable VT Form BI-471 is available for download through this link.

FAQ

Q: What is Form BI-471?A: Form BI-471 is the Vermont Business Income Tax Return used by businesses in Vermont to report their income and calculate their tax liability.

Q: Who needs to file Form BI-471?A: Any business operating in Vermont that has income from Vermont sources is required to file Form BI-471.

Q: What information is required on Form BI-471?A: Form BI-471 requires businesses to provide information on their income, deductions, credits, and tax liability.

Q: When is the deadline to file Form BI-471?A: The deadline to file Form BI-471 is April 15th.

Q: Are there any penalties for late filing of Form BI-471?A: Yes, there are penalties for late filing of Form BI-471. The penalty is based on the amount of tax owed and the number of days the return is late.

Q: Can I e-file Form BI-471?A: Yes, you can e-file Form BI-471 using approved tax software.

Q: Can I make a payment with Form BI-471?A: Yes, you can make a payment with Form BI-471. The payment can be made by check, money order, or electronic payment.

Q: What should I do if I need help with Form BI-471?A: If you need help with Form BI-471, you can contact the Vermont Department of Taxes or consult a tax professional.