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Vermont Chamber Testifies on Proposed Cloud Tax
The Vermont Chamber testified before the Senate Finance Committee on a proposal to remove a tax exemption on software as a service and create a tax on platform and infrastructure as a service. If passed this would levy a new estimated $20 million sales tax burden carried largely by the business community.
In a year when the State is experiencing a revenue surplus, the Vermont Chamber questioned why the Legislature would consider adding a tax to businesses struggling with a workforce shortage, 7% inflation, and endless supply chain issues. The tax would impact Vermont’s ability to recruit and scale technology businesses and would increase operating costs for virtually every business in Vermont. Please contact Vermont Chamber Vice President of Government Affairs Megan Sullivan if you have questions or would like help providing your input to the Legislature.
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