Vermont Child Care Contribution

Summary:

Does any one know when Oracle will release a vertex update for "Vermont Child Care Contribution" (aka CCC) employer tax which will be effective July 1, 2024?

Here is the high level requirement:

(1) Employers are required to pay a 0.44% payroll tax on their employees’ wages earned on or after July 1, 2024, to the Department. All wages as defined under Section 3401 of the Internal Revenue Code that are subject to Vermont income tax withholding are also subject to the 0.44% CCC

(2) Employees are not required to file or pay the CCC, but employers may choose to deduct and withhold up to one-quarter of the contribution from employee wages (i.e., not more than 0.11% of any employee’s wages).