What is the Vermont Veteran Tax Credit?

If you lived in Vermont part or all of the year and have a discharge or other record of separation showing military service, you can get a $250 refundable credit if your AGI is $25,000 or less. If your AGI is over $25,000 but under $30,000, the credit gets smaller as income goes up and stops at $30,000. Our software calculates the credit for you and shows it on the state summary and Line 12 of Form IN112 Part II.