Vermont 1099 Filing Requirements
The State of Vermont Mandates
1099 Filing!
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Vermont State Filing
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Vermont 1099 Reporting Requirements
The State of Vermont mandates filing Form 1099 with the state agency under the following conditions:
| Scenario | If there is any Vermont State Tax Withholding | If there is no Vermont State Tax Withholding |
|---|---|---|
| Payments Threshold | More than $0* | |
| Due Date | January 31, 2024 | |
| Filing Method | Direct State Filing | |
| Additional Forms | Form WHT-434 (Annual Withholding Reconciliation) | Not Required |
*The federal threshold varies based on the 1099 form types. Learn more about the federal thresholds for each
1099 form.
The State of Vermont requires the following Forms:
- Form 1099 (1099-NEC, 1099-MISC, 1099-INT, 1099-DIV, 1099-R, 1099-B, 1099-G, 1099-K, and 1099-OID)
- Form W-2 - Wages and Tax Statement. Learn more about Vermont W-2 State Filing Requirements.
TaxBandits supports Form 1099 and W-2 filing with both the Federal
and State.
Frequently Asked Questions
Does Vermont require 1099 filing?
Yes, the state of Vermont requires you to file 1099 forms if there was state tax withholding.
- Required when the payment reported was subject to Vermont withholding (i.e., when VT state tax withheld).
- Required when payment was made to a nonresident of Vermont for services performed in Vermont.
Does Vermont have a specific payment threshold for Form 1099 filing?
No, Vermont does not have a specific payment threshold for reporting Form 1099. Reporting requirements in the state align with federal guidelines. Payers are required to assess and file a Form 1099 based on the applicable federal threshold for each specific form. Below are the various Federal thresholds for Form 1099.
| Forms | Threshold |
|---|---|
| Form 1099-NEC | $600 |
| Form 1099-MISC | $600 |
| Form 1099-K | $20,000 |
| Form 1099-INT |
|
| Form 1099-DIV |
|
| Form 1099-R | $10 |
| Form 1099-B | - |
| Form 1099-G | - |
| Form 1099-OID | $10 |
What types of 1099 forms does Vermont require?
Vermont requires the filing of the following 1099 forms directly with the state only if there is state tax withholding:
Does Vermont require additional forms when filing 1099?
Yes, Vermont requires the following Withholding Tax Reconciliation Form along with your 1099.
Form WHT-434 (Annual Withholding Reconciliation) is an Annual Employer Reconciliation report used to report withholding tax returns for employers.
- When e-filing, you are required to complete Form WHT-434 with your 1099. Here at TaxBandits, we simplify the e-filing of 1099.
- When paper filing, you must include both Form WHT-434 and 1096.
When you efile 1099 with TaxBandits, you need to take care of Form WHT-434.
When is Vermont 1099 due?
The filing deadline for Form 1099, Form WHT-434 is January 31. If this due date falls on a weekend or federal holiday, the next business day will be the deadline.
For the 2023 tax year, the deadline for filing 1099 Forms with Vermont is January 31, 2024.
What are the requirements to file 1099 electronically with Vermont?
The Commissioner of Taxes has mandated the electronic filing of 1099 and Form WHT-434. The mandate is effective for all payroll filing services, paid preparers, and employers who will remit 25 or more 1099 forms. Employers with fewer than 25 forms are encouraged to file electronically.
What are the penalties for not filing or filing 1099 late with Vermont?
Vermont imposes penalties if you file 1099 late and/or don’t pay the state taxes on time.
-
Penalties for filing 1099 late
You will be charged 5% of the unpaid taxes each month you are late until you file. If you file 1099 after 60 days from the original deadline, the penalty would be $50.
-
Penalties for reporting incorrect tax liability intentionally
100% of your unpaid taxes
Where to mail Vermont 1099 forms?
If you want to paper file 1099, complete 1096 & WHT-434 and mail them to the following address.
PO Box 547,
Montpelier,
VT 05601-0547.
For more information, please visit the State website: https://tax.vermont.gov/
