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Vermont Fiduciary Return of Income
Extracted from PDF file 2023-vermont-form-fit-161.pdf, last modified November 2022Fiduciary Return of Income
Vermont Department of Taxes *231611100* 2023 Form FIT-161 * 2 3 1 6 1 1 1 0 0 * Vermont Fiduciary Return of Income Name of Estate or Trust FEIN Date of Death (MMDDYYYY) Name of Fiduciary Title of Fiduciary Tax year BEGIN date (MMDDYYYY) / / / / / / Mailing Address of Fiduciary (Number and Street/Road or PO Box) Tax year END date (MMDDYYYY) State of Domicile at Death Additional Line for Mailing Address of Fiduciary, if needed City State Foreign Country ZIP Code and/or Creation of Trust Check ONE Revocable Estate Trust Check here if this is an EXTENDED return Bankruptcy Estate Grantor Trust Check here if this is an AMENDED return Irrevocable Trust Check here if this is your FINAL return A. Were any distributions reported on federal Form 1041, Line 18, made to nonresident beneficiaries? . . . . . . . . . . . . . . . . . . A. Yes No B. Did the estate or trust have non-Vermont municipal bond income? If “Yes,” see instructions for both Line 2a and Schedule FIT-166, Part I. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B. Yes No C. Are any present or future trust beneficiaries skip persons? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . C. Yes No D. Is this return for a Qualified Settlement Fund (federal Form 1120-SF)?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D. Yes No 1. Federal taxable income from Form 1041, Line 23, or modified gross income of Qualified Settlement Fund (from federal Form 1120-SF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1. __________________________.00 2a. Income from Non-Vermont state and local obligations (from Schedule FIT-166, Part I, Line 3). . . . . . . . . 2a. __________________________.00 2b. Bonus Depreciation allowed under federal law for 2023. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2b. __________________________.00 2c. State and local income taxes included on federal Form 1041, Line 11. (See instructions) . . . . . . . . . . . . . . 2c. __________________________.00 3. Federal Taxable Income with Additions (Add Lines 1, 2a, 2b, and 2c.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. __________________________.00 4a. Interest income from U.S. Obligations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4a. __________________________.00 4b. Capital Gains Exclusion (from Schedule FIT-162, Line 21. If less than zero, enter -0-.). . . . . . . . . . . . . . . 4b. __________________________.00 4c. Adjustment for prior years’ Bonus Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4c. __________________________.00 4d. Add Lines 4a, 4b, and 4c. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4d. __________________________.00 5. Vermont taxable income (Line 3 minus Line 4d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. __________________________.00 6. Vermont Tax from the tax rate schedule on page 2 of this form . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6. __________________________.00 7. Additions to Vermont Tax (from Schedule FIT-166, Part II, Line 1c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7. __________________________.00 8. Subtractions from Vermont Tax (from Schedule FIT-166, Part II, Line 2e). . . . . . . . . . . . . . . . . . . . . . . . . . 8. __________________________.00 9. Vermont Tax with Additions and Subtractions (Add Lines 6 and 7, then subtract Line 8). . . . . . . . . . . . . . . 9. __________________________.00 10. Income Adjustment (from Schedule FIT-166, Part III, Line 10, or 100%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10. __________ ._________% 5454 Form FIT-161 Page 1 of 2 Rev. 10/23 Name of Estate or Trust *231611200* FEIN * 2 3 1 6 1 1 2 0 0 * 11. Adjusted tax (Multiply Line 9 by Line 10). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. _______________________ .00 12. Other states credit (from Schedule FIT-167, Line 21). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. _______________________ .00 13. Total Vermont taxes (Line 11 minus Line 12). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13. _______________________ .00 14. Payment 14a. Vermont Tax Withheld on 1099. . . . . . . . . . . . . . . . . . . . . . . 14a. _______________________ .00 14b. Estimated Tax or Extension Payments. . . . . . . . . . . . . . . . . . 14b. _______________________ .00 14c. Vermont Real Estate Withholding . . . . . . . . . . . . . . . . . . . . . 14c. _______________________ .00 Attach copy of Form RW-171 or Schedule K-1VT 14d. Nonresident Payments from Form WH-435. . . . . . . . . . . . . . 14d. _______________________ .00 14e. 2022 Overpayment Applied. . . . . . . . . . . . . . . . . . . . . . . . . . 14e. _______________________ .00 14f. Total Payments (Add Lines 14a, 14b, 14c, 14d, and 14e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14f. _______________________ .00 15. Overpayment: If Line 13 is less than Line 14f, subtract Line 13 from Line 14f . . . . . . . . . . . . . . . . . . . . . . 15. _______________________ .00 16. Amount of overpayment to be credited to 2024 taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16. _______________________ .00 17. Amount of overpayment to be REFUNDED (Line 15 minus Line 16) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17. _______________________ .00 18. BALANCE DUE: If Line 14f is less than Line 13, subtract Line 14f from Line 13. . . . . . . . . . . . . . . . . . . 18. __________________________.00 Vermont 2023 Tax Schedule If Taxable income is over But not over The Vermont Tax is of the amount over $0 $3,050 3.35% $0 $3,050 $7,150 $102.00 + 6.60% $3,050 $7,150 $10,950 $373.00 + 7.60% $7,150 $10,950 --- $662.00 + 8.75% $10,950 If filing for a Qualified Settlement Fund, tax is 8.95% of taxable income. File this return no later than the 15th day of the fourth month following the close of the operating or income year. Attach a legible copy of the federal Form 1041, U.S. Income Tax Return for Estates and Trusts, or federal Form 1120-SF for the same taxable period. I declare under the penalties of perjury, this return is true, correct, and complete to the best of my knowledge. If prepared by a person other than the taxpayer, this declaration further provides under 32 V.S.A. §§ 5901-5903 that this information has not been and will not be used for any other purpose or made available to any other person other than for the preparation of this return unless a separate valid consent form is signed by the taxpayer and retained by the preparer. Signature of Responsible Officer Printed Name Date Daytime Telephone Number Date Preparer’s Telephone Number Email Address (optional) Paid Preparer’s Signature Preparer’s Printed Name Preparer’s Email Address (optional) Firm’s Name (or yours if self-employed) and address Check if the Department of Taxes may discuss this return with the preparer shown. 5454 Check if self-employed Keep a copy for your records. Clear ALL fields Preparer’s SSN or PTIN For Department Use Only Ck. Amt. Init. Save and go to Important Printing Instructions FEIN Form FIT-161 Page 2 of 2 Rev. 10/23 Save and Print
Form FIT-161
More about the Vermont Form FIT-161 Corporate Income Tax TY 2023
We last updated the Fiduciary Return of Income in February 2024, so this is the latest version of Form FIT-161, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form FIT-161 directly from TaxFormFinder. You can print other Vermont tax forms here.
Other Vermont Corporate Income Tax Forms:
TaxFormFinder has an additional 51 Vermont income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form WHT-434 | Annual Withholding Reconciliation |
| Form BI-471 | Business Income Tax Return |
| Schedule K-1VT | Shareholder, Partner, Or Member Information |
| Form CO-411 | Corporate Income Tax Return |
| Form BA-403 | Application for Extension of Time to File Vermont Corporate/Business Income Tax Returns |
View all 52 Vermont Income Tax Forms
Form Sources:
Vermont usually releases forms for the current tax year between January and April. We last updated Vermont Form FIT-161 from the Department of Taxes in February 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Vermont Form FIT-161
We have a total of nine past-year versions of Form FIT-161 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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