VT Tax & Accounting Services
Kurt Simmons CPA provides comprehensive tax and financial services to individuals and businesses throughout Vermont (VT). With its small business economy and agricultural heritage, we understand the unique financial landscape that comes with doing business in Vermont.
Under the CPA Mobility Act, our CPA — licensed in Maryland, Delaware, and Florida — is authorized to provide the full range of attestation, tax, and advisory services to Vermont clients without the need for an additional state license. This means Vermont individuals and businesses receive the same comprehensive service as our home-state clients: financial statement audits, tax strategy, IRS representation, virtual CFO services, and every other service we offer — delivered through our technology-forward, virtual-first practice model.
CPA Services Available in Vermont (VT)
VT Individual Tax Preparation
Comprehensive federal and Vermont state tax return preparation, including complex returns with investments, rental properties, and self-employment income.
Learn More →VT Business Tax Services
Tax preparation and planning for Vermont-based businesses including S-Corps, C-Corps, partnerships, LLCs, and sole proprietorships.
Learn More →VT Cryptocurrency Tax
Specialized crypto tax services for Vermont investors and traders. DeFi, NFTs, staking rewards, and exchange reporting handled with expertise.
Learn More →VT Trader Tax Services
Mark-to-market elections, wash sale tracking, and tax optimization strategies for active traders in Vermont.
Learn More →VT IRS Resolution
Professional representation before the IRS for Vermont taxpayers facing audits, collections, liens, levies, or offers in compromise.
Learn More →VT 83(b) Elections
Equity compensation planning and 83(b) election filing for Vermont startup employees and founders receiving restricted stock.
Learn More →VT Financial Statement Audits
Full-scope GAAS-compliant financial statement audits for businesses, nonprofits, and organizations requiring independent assurance.
Learn More →VT Review Engagements
Limited assurance engagements providing meaningful confidence in financial statements for lender requirements and stakeholder reporting.
Learn More →VT Compilations
Professionally prepared financial statements from management-provided data for internal reporting, small business needs, and bank presentations.
Learn More →VT Agreed-Upon Procedures
Targeted, customized engagements designed to address specific areas of concern with flexible scope tailored to stakeholder needs.
Learn More →VT Employee Benefit Plan Audits
DOL-compliant audits for 401(k), pension, and employee benefit plans meeting ERISA filing requirements and fiduciary obligations.
Learn More →VT Tax Strategy & Advisory
Proactive, year-round tax planning that identifies savings opportunities. Entity structure optimization, multi-state planning, and strategic initiatives.
Learn More →VT Cost Segregation Studies
Engineering-based analysis to accelerate depreciation deductions on commercial and residential rental properties, maximizing cash flow.
Learn More →VT Virtual CFO Services
Fractional CFO capabilities including financial modeling, cash flow management, KPI dashboards, and strategic financial leadership.
Learn More →VT Business Consulting
Operational assessments, process improvement, internal control design, and strategic planning to drive efficiency and profitability.
Learn More →VT Estate & Succession Planning
Comprehensive estate planning, business succession strategies, and wealth transfer optimization for business owners and high-net-worth individuals.
Learn More →VT Capital Markets Advisory
Securities compliance, FINRA regulatory guidance, and capital markets advisory for businesses navigating public offerings, private placements, and broker-dealer requirements.
Learn More →Vermont Audit Services in Detail
Vermont businesses, nonprofits, and benefit plan sponsors typically need an independent audit when state law, federal rules, lenders, grantmakers, or boards require external assurance. We perform GAAS-compliant attest engagements scoped to the specific assurance need — most commonly:
Vermont Nonprofit Audits
Audited financial statements for VT charities are routinely required by major Vermont funders — including the Vermont Community Foundation, the High Meadows Fund, the Lintilhac Foundation, the Rosamond Gifford Foundation, the Ben & Jerry's Foundation, the Stowe Reporter / Vermont Country Store and similar VT-affiliated foundations, the United Way affiliates, and federal subrecipient grantors. Vermont also has substantial conservation and land-trust activity through the Vermont Land Trust, requiring nonprofit attest work.
Vermont 401(k) & Employee Benefit Plan Audits
Vermont plan sponsors filing Form 5500 generally require an ERISA-compliant audit when the plan has 100 or more participants with account balances at the start of the plan year. We perform full-scope and §103(a)(3)(C) limited-scope benefit plan audits for 401(k), 403(b), and defined-benefit plans across Vermont, including plans sponsored by Ben & Jerry's Homemade (South Burlington — Unilever subsidiary), Vermont Country Store (Weston/Rockingham), Cabot Creamery / Agri-Mark (dairy cooperative), King Arthur Baking Company (Norwich — employee-owned), Burton Snowboards (Burlington), Keurig Dr Pepper historical Burlington (Green Mountain Coffee Roasters HQ — now part of KDP), National Life Group (Montpelier — life insurance), BlueCross BlueShield of Vermont, The University of Vermont (UVM) and UVM Medical Center, Middlebury College, Norwich University, GlobalFoundries Essex Junction (formerly IBM Burlington semiconductor fab), and Vermont's substantial ski resort industry (Vail Resorts at Stowe and Okemo; Pico/Killington under Powdr; Sugarbush Mountain).
Vermont Single Audits (Uniform Guidance)
Vermont nonprofits, counties, school districts, and pass-through subrecipients that expend $1,000,000 or more in federal awards in a fiscal year are subject to the Single Audit requirements of 2 CFR Part 200.
Vermont Lender, Bonding & Investor Audits
Vermont banks (Northfield Savings Bank, Mascoma Bank, Bar Harbor Bank & Trust VT operations, Community Bank), surety companies, and Vermont-based agricultural and forestry lenders frequently require audited financial statements as a condition of credit facilities, surety capacity, or capital raises.
Vermont Reviews & Compilations
Where a full audit is not required, we deliver review engagements (limited assurance) and compilations (no assurance) — both routinely accepted by Vermont lenders and stakeholders requiring CPA-prepared financial statements.
Vermont (VT) Tax & Business Landscape
Key Vermont Tax Numbers. Personal income tax: graduated, top rate 8.75% on income above approximately $213,150 single / $259,500 joint — among the higher U.S. top rates. Corporate income tax: graduated, top rate 8.5%. Sales and use tax: 6% state, plus 1% local option in some towns; combined typically 6%–7%. Meals and Rooms Tax: 9% on lodging and prepared meals (significant for VT's tourism industry). Estate tax: applies above $5 million at a flat 16% — substantially below the federal exemption of approximately $13.99M. Pass-through entity (PTE) elective tax: rate matches personal IT, available since tax year 2022.
Filing Mechanics. Individuals (residents and nonresidents/PY) file Form IN-111. C-corporations file Form CO-411. Partnerships file Form BI-471; S-corps file Form BI-471. PTE election is made on partnership/S-corp returns. Returns are due April 15 and administered by the Vermont Department of Taxes.
Vermont Estate Tax — A $5M Trap for Second-Home Owners. Vermont's $5M estate tax threshold is one of the lowest among U.S. states with an estate tax, and Vermont applies its tax on an apportioned basis to nonresident decedents owning VT-situs real property — meaning a New York or Massachusetts decedent with a Stowe, Killington, or Sugarbush vacation home can trigger Vermont estate tax on the Vermont real-property portion of their estate, even though they were not Vermont domiciled. Combined with a flat 16% rate on the excess above $5M, this is a substantial planning issue for HNW second-home owners. We handle Vermont estate tax planning, structuring (LLCs, trusts, fractional interests), and the VT-specific exemption planning to minimize exposure.
Vermont Ski Industry & Second Homes. Vermont's ski industry includes Stowe (Vail Resorts), Killington ("the Beast of the East" — Powdr Corporation), Sugarbush (Alterra), Stratton (Alterra/Aspen Skiing legacy), Mount Snow (Vail), Okemo (Vail), Jay Peak, Smugglers' Notch, Bromley, and Magic Mountain. Vermont's tourism economy is heavily driven by NY, NJ, MA, CT, and Quebec second-home owners and visitors. We handle short-term rental tax issues (Schedule E vs. Schedule C, §469 passive activity, §280A vacation home rules), Vermont Meals and Rooms Tax compliance, the VT estate tax exposure for non-VT residents owning VT real property, and §469(c)(7) real estate professional planning.
Vermont Maple Syrup & Dairy. Vermont is the #1 U.S. producer of maple syrup (over 50% of U.S. production), and despite its small size, a major dairy state. Maple syrup producers face Schedule F farm reporting, sugarbush and equipment depreciation under MACRS, IRC §1301 farm income averaging, conservation easements under IRC §170(h) (very common in VT through the Vermont Land Trust), and the unique tax treatment of evaporator/RO equipment. VT dairy farmers face livestock depreciation (5-year MACRS for breeding/dairy cattle), dairy cooperative patronage dividends from Agri-Mark/Cabot and Dairy Farmers of America, and the unique challenges of small-scale dairy economics.
Ben & Jerry's, Cabot & Vermont Specialty Food. Vermont punches far above its weight in specialty food: Ben & Jerry's (South Burlington — Unilever subsidiary; iconic ice cream), Cabot Creamery (Agri-Mark cooperative — cheddar cheese), King Arthur Baking Company (Norwich — employee-owned; flour and baking products), Vermont Country Store (Weston — historical retailer), Green Mountain Coffee Roasters (Waterbury — now part of Keurig Dr Pepper), Vermont Creamery, Vermont Smoke and Cure, Lake Champlain Chocolates, and many craft beer and cider operations (Hill Farmstead, The Alchemist Heady Topper, Citizen Cider). We support Vermont specialty food producers with manufacturing accounting, distribution multi-state nexus, and B-corp / employee-ownership planning.
Vermont Economy & Who We Serve. Vermont's economy spans tourism and skiing (Stowe, Killington, Sugarbush, fall foliage, Lake Champlain), agriculture (#1 maple syrup, dairy, organic), specialty food (Ben & Jerry's, Cabot, King Arthur, Vermont Country Store, craft beer), finance and insurance (National Life Group Montpelier, BlueCross BlueShield of Vermont), technology and semiconductors (GlobalFoundries Essex Junction — formerly IBM Burlington semiconductor fab; Vermont Center for Emerging Technologies), education (UVM, Middlebury College, Norwich University, Bennington College, Marlboro/Goddard legacy), healthcare (UVM Medical Center, Dartmouth-Hitchcock NH border), and outdoor industry (Burton Snowboards Burlington; Darn Tough Vermont socks; Skida; Vermont Glove). Our typical VT clients include maple syrup and dairy farmers, ski-area lodging operators, NY/NJ/MA second-home owners, Burlington tech and small-business professionals, Ben & Jerry's and specialty food employees, real estate investors, and HNW families navigating Vermont's $5M estate tax.
CPA Mobility in Vermont. Vermont has adopted CPA mobility provisions under the Uniform Accountancy Act. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm all applicable Vermont Board of Public Accountancy mobility and firm registration requirements before commencing any engagement.
Cities and Communities We Serve. Our virtual-first practice serves clients across all of Vermont, including Burlington (largest city; UVM; Lake Champlain; Ben & Jerry's South Burlington), South Burlington, Colchester, Rutland, Essex Junction (GlobalFoundries), Bennington, Montpelier (state capital — smallest U.S. state capital by population), Brattleboro, Stowe (resort), Killington (ski), Sugarbush/Warren, Stratton, Manchester, Middlebury (Middlebury College), Waterbury (Ben & Jerry's factory; KDP/Green Mountain), the Northeast Kingdom, the Champlain Valley, the Mad River Valley, and every Vermont county.
Why Vermont Clients Choose Us
- GAAS-compliant audit, review, and compilation experience for nonprofits, benefit plans, and privately held businesses including specialty food and ski-industry operators
- Deep expertise in VT-specific issues: VT's $5M estate tax (particularly the trap for non-VT-resident second-home owners with VT-situs real property), VT PTE elections, ski industry short-term rental tax (§469, §280A, Meals and Rooms Tax), Vermont maple syrup tax (sugarbush depreciation, §1301 averaging, conservation easements through Vermont Land Trust), dairy cooperative patronage from Cabot/Agri-Mark, Ben & Jerry's and Vermont specialty food manufacturer multi-state nexus, and B-corp/employee-ownership accounting for King Arthur and similar VT firms
- Capital markets background — Kurt Simmons has passed the Series 65 examination (Passed; not currently held as an active license) in addition to holding the CPA
- Specialized practices in cryptocurrency taxation, active trader tax, and 83(b) elections for VT Burlington tech-startup employees
- Technology-forward, virtual-first delivery — secure client portal, e-signature, and video consultations
- Transparent, fixed-fee engagements where possible — no surprise hourly invoices
Vermont CPA — Frequently Asked Questions
Do I need a Vermont-licensed CPA?
Vermont has adopted CPA mobility provisions under the Uniform Accountancy Act. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm any applicable Vermont Board of Public Accountancy firm-registration requirements before commencing attest engagements.
What is Vermont's income tax rate?
Vermont has a graduated personal income tax with a top rate of 8.75% on income above approximately $213,150 single / $259,500 joint — among the higher U.S. top rates. The VT corporate income tax has a top rate of 8.5%. Form IN-111 is due April 15.
What is Vermont's estate tax threshold?
Vermont imposes an estate tax with an exemption of $5 million — substantially below the federal exemption (currently approximately $13.99M per individual). The VT estate tax rate is a flat 16% on the taxable estate above the $5M threshold. Vermont second-home owners with substantial estates need to plan carefully — owning Vermont real property creates VT estate tax nexus regardless of the decedent's domicile (using the apportioned-formula tax against non-VT residents owning VT-situs real estate). We handle planning structures (LLCs, trusts, fractional interests) to minimize VT estate tax exposure for second-home owners.
Does Vermont have a SALT-cap workaround?
Yes. Vermont enacted an elective Pass-Through Entity Tax effective for tax years beginning on or after January 1, 2022. Eligible S-corps and partnerships pay an entity-level tax at the top individual rate on Vermont-source taxable income, and members receive a corresponding credit on Form IN-111.
I'm a maple syrup producer or VT dairy farmer. What special tax issues apply?
Vermont is the #1 U.S. producer of maple syrup (over 50% of U.S. production) and a major dairy state. Specialized issues include Schedule F farm reporting, sugarbush and equipment depreciation under MACRS (evaporators, reverse-osmosis units, tubing systems), livestock depreciation (5-year MACRS for breeding/dairy cattle), conservation easements under IRC §170(h) (very common in VT given Vermont Land Trust activity), Section 1031 like-kind exchanges of farmland, IRC §1301 farm income averaging, and dairy cooperative patronage dividends from Agri-Mark/Cabot, Dairy Farmers of America, and similar cooperatives.
I own a Vermont ski lodge or vacation home. What special tax issues apply?
Stowe, Killington, Sugarbush, Stratton, Mount Snow, Okemo, and Jay Peak are major Northeast U.S. ski destinations with substantial second-home ownership by NY, NJ, MA, CT, and other out-of-state residents. We handle short-term rental tax issues (Schedule E vs. Schedule C — the substantial-services test, §469 passive activity rules, §280A vacation home rules when personal use exceeds the greater of 14 days or 10% of rental days), Vermont Meals and Rooms Tax (9% on lodging) and local options, the VT estate tax issues for non-VT residents owning VT real property, and Section 469(c)(7) real estate professional safe harbor planning.
Do you serve Vermont clients outside Burlington?
Yes. Our practice is virtual-first, so we serve clients across all of Vermont — including Burlington (largest city; UVM; Lake Champlain; Ben & Jerry's), South Burlington, Colchester, Rutland, Essex Junction (GlobalFoundries), Bennington, Montpelier (state capital), Brattleboro, Stowe (resort), Killington (ski), Sugarbush/Warren, Stratton, Manchester, Middlebury (Middlebury College), Waterbury, the Northeast Kingdom, the Champlain Valley, and rural Vermont.