Schedule Fit-167 - Vermont Credit For Tax Paid To Other State Or Canadian Province For Fiduciaries - 2015

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Vermont Department of Taxes
PO Box 1700
Montpelier, VT 05601-1700
*151671100*
Phone: (802) 828-6820
2015 VT CREDIT FOR TAX PAID TO
VT Schedule
* 1 5 1 6 7 1 1 0 0 *
OTHER STATE OR CANADIAN
FIT-167
PROVINCE FOR FIDUCIARIES
Attach to Form FIT-161
FOR RESIDENTS AND SOME PART-YEAR RESIDENTS ONLY
Name of Estate or Trust
Federal ID Number
You must complete a separate Schedule FIT-167 for each state or Canadian province and attach a copy of the other
state return. See instructions.
1.
Name of state or Canadian province. Use standard two-letter abbreviation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1. __________
2.
Enter total Income taxed in another state or
Canadian province and also subject to
Check to
ç indicate
2. ___________________________
VT tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
loss
3.
2015 Bonus Depreciation add back taxed in another
state or Canadian province AND taxed in VT . . . . . . . . 3. ___________________________
4.
Non-VT state/local obligations taxed in another state
or Canadian province AND taxed in VT.. . . . . . . . . . . . 4. ___________________________
5.
Add Lines 2-4. If negative, enter “0” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. ____________________________
6.
Bonus Depreciation subtracted from income in another
state or Canadian province in TY 2015 . . . . . . . . . . . . . 6. ___________________________
7.
U. S. Government interest income . . . . . . . . . . . . . . . . . 7. ___________________________
8.
Add Lines 6 & 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. ____________________________
9.
Modified total Income for income taxed in other state or Canadian province AND
taxed in VT (Subtract Line 8 from Line 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. ____________________________
10.
Total Income
Check to
ç indicate
(from Federal Form 1041, Line 9) . . . . . . .
10. ___________________________
loss
11.
Non-VT state/local obligations from Form FIT-161,
Line 2a
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. ___________________________
12.
Bonus Depreciation from Form FIT-161, Line 2b. . . . 12. ___________________________
13.
Add Lines 10-12. If negative, enter “0” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13. ____________________________
14.
U. S. Government interest income from
Form FIT-161, Line 4a . . . . . . . . . . . . . . . . . . . . . . . . . 14. ___________________________
15.
Bonus Depreciation from Form FIT-161, Line 4c . . . . 15. ___________________________
16.
Add Lines 14 & 15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16. ____________________________
17.
Subtract Line 16 from Line 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17. ____________________________
18.
VT income tax from Form FIT-161, Line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18. ____________________________
19.
Computed tax credit (Divide Line 9 by Line 17 and multiply result by Line 18).
Result cannot be more than 100% of VT tax.
Line 9
__________________________
x Line 18 _______________________
0.00
0.00
Line 17
. . . . . 19. ____________________________
0.00
20.
Income tax paid to another state or Canadian province based on
modified total income from Line 9 above. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20. ____________________________
21.
VT CREDIT for income tax paid to another state or Canadian province.
Enter the lesser of Line 19 or Line 20. Also enter on Form FIT-161, Line 12 . . . . . . . . . . 21. ____________________________
Schedule FIT-167
(Formerly FI-161, Schedule D)
Rev. 10/15
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