Vermont Statutes Title 32 Sec. 5916
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Terms Used In Vermont Statutes Title 32 Sec. 5916
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means any business entity subject to income taxation as a corporation, and any entity qualified as a small business corporation, under the laws of the United States, with the exception of the following entities that are exempt from taxation under this chapter:
- Individual: means a natural person. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 5916. Tax credits
For purposes of section 5825 of this title, no credit shall be available to a resident individual, estate, or trust, for taxes imposed by another state or territory of the United States, the District of Columbia, or a Province of Canada upon an S corporation or the income of an S corporation. (Added 1995, No. 169 (Adj. Sess.), § 21, eff. May 15, 1996.)