Exemption for Other Eligible Retirement Systems

Official source

Vermont allows taxpayers to exclude the first $10,000 of retirement income from certain other retirement systems. Income received from a contributory annuity, pension, endowment, or retirement system of the U.S. government or a state government is eligible for a reduction in tax. The exemption only applies to benefits that are based on earnings not covered by the Social Security Act (i.e., earnings that were not subject to Social Security tax withholding). Joint filers are eligible for a reduction in tax if they earned $75,000 or less and other filers are eligible if they earned $60,000 or less. To see if you qualify, use the worksheet in the instructions for Vermont Schedule IN-112, Vermont Tax Adjustments and Credits. If you qualify, complete, and submit Schedule IN-112 with your IN-111, Vermont Income Tax Return .

Note: A taxpayer can only claim one of the following exemptions, even if more than one applies: Social Security Exemption; Military Retirement Exemption; Civil Service Retirement System Exemption; Other Retirement System Exemption.

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Exemption for Other Eligible Retirement Systems

Official source

Vermont allows taxpayers to exclude the first $10,000 of retirement income from certain other retirement systems. Income received from a contributory annuity, pension, endowment, or retirement system of the U.S. government or a state government is eligible for a reduction in tax. The exemption only applies to benefits that are based on earnings not covered by the Social Security Act (i.e., earnings that were not subject to Social Security tax withholding). Joint filers are eligible for a reduction in tax if they earned $75,000 or less and other filers are eligible if they earned $60,000 or less. To see if you qualify, use the worksheet in the instructions for Vermont Schedule IN-112, Vermont Tax Adjustments and Credits. If you qualify, complete, and submit Schedule IN-112 with your IN-111, Vermont Income Tax Return .

Note: A taxpayer can only claim one of the following exemptions, even if more than one applies: Social Security Exemption; Military Retirement Exemption; Civil Service Retirement System Exemption; Other Retirement System Exemption.