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Vermont

A guide to help you understand the ins and outs of business in Vermont

Overview

Vermont is located in New England. It shares state borders with Massachusetts, New Hampshire and New York, as well as its northern border with Canada. Montpelier serves as the state’s capital, while Burlington is its largest city. The state is one of the smallest in the US, in both terms of size and population; it is the 6thsmallest state and has the 2nd smallest population, an estimated 624,000 people. The GDP for Vermont was $34,013,000,000 in 2019.

Manufacturing, renewable energy, education, IT, food and beverage, healthcare, financial services and insurance, tourism and outdoor recreation, and professional services are the top industries in the state. Vermont has over 17,00 clean energy jobs, which has grown by 29% since 2013, and has the most solar energy jobs per capita in the country.

In 2019, Vermont imported $761,610 from Qatar.

In 2019, Vermont exported $4,574,123 to Qatar with its top exports being:

Special classification provisions

Headgear and parts thereof

Nuclear reactors, boilers, machinery, etc.

Vermont has a graduated corporate income tax rate, which has been established as such: the first $10,000 of income will be taxed at 6%; $10,001-$25,000 will be taxed $600 plus an additional 7%; and anything in excess of $25,000 will have a $1,650 tax as well as an 8.5% rate. Vermont has two free trade zones (Burlington and Brattleboro) and 31 incentive programs.

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