Vermont Department of Taxes
PO Box 1700 Montpelier, VT 05601-1700
*171661100*
Phone: (802) 828-6820
2017 VT INCOME ADJUSTMENTS AND
VT Schedule
FIT-166
* 1 7 1 6 6 1 1 0 0 *
TAX COMPUTATION FOR FIDUCIARIES
Attach to Form FIT-161
Federal ID Number
Name of Estate or Trust
PART I
TAXABLE MUNICIPAL BOND INCOME
1.
Total interest and dividend income from all state and local obligations exempt from
Federal tax (see Line-by-Line Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1. ______________________. _____
2.
Interest and dividend income from VT state and local obligations included in Line 1 . . . . . 2. ______________________. _____
3.
INCOME FROM NON-VT STATE AND LOCAL OBLIGATIONS TO BE ADDED
TO VT TAXABLE INCOME. (Subtract Line 2 from Line 1, but not less than zero .)
Enter here and on Form FIT-161, Line 2a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. ______________________. _____
4.
If all municipal bond income was distributed, check here .
c
PART II
ADDITIONS AND SUBTRACTIONS TO TAX
1.
Additions to VT tax
1a. Tax on lump-sum distributions
(from Federal Form 4972) . . . . . . . . . . . . . . . . . . 1a. _____________________ . _____
1b. Recapture of Federal investment credit
(from Federal Form 4255) . . . . . . . . . . . . . . . . . . 1b. _____________________. _____
1c.
Total additions (add Lines 1a and 1b; then, multiply by 24%) .
Enter here and on FIT-161, Line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1c. ______________________. _____
2
Subtractions from VT tax
2a.
Investment tax credit - VT-based only
(from Federal Form 3468) . . . . . . . . . . . 2a. _____________________. _____
2b.
Multiply Line 2a by 24% . . . . . . . . . . . . 2b. _____________________. _____
2c.
Research & Development Credit,
32 V .S .A . § 5930d . . . . . . . . . . . . . . . . . . 2c. ____________________. _____
2d.
Total subtractions from VT tax (add Lines 2b and 2c) .
Enter here and on FIT-161, Line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2d. ______________________. _____
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Schedule FIT-166
(Formerly FI-161, Schedules A, B, C, and E)
Page 1 of 2
Rev. 10/17