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SuitePeople U.S. Payroll: Vermont Childcare Contributions Effective July 1, 2024

edited Jun 27, 2024 3:39PM in Announcements

This notice is intended for customers who are using SuitePeople U.S. Payroll and you withhold Vermont tax.

Act 76, related to childcare and early education, was enacted into law in 2023. This act creates the Child Care Contribution (CCC) under 32 V.S.A Chapter 246 to fund investments in Vermont's childcare system.

What is Changing?

Beginning July 1, 2024, Vermont employers and self-employed individuals will need to make contributions composed of the following:

  • 0.44% payroll tax on wages.
  • 0.11% self-employment income tax to the Vermont Department of Taxes for deposit into the Child Care Contribution Special Fund.

The Vermont CCC follows the same filing and deposit frequency as Vermont Withholding Tax and will be reported on the same tax return as the Vermont Withholding Tax.

Regards,

@Robert Nedelkow-Oracle | NetSuite Support Community Administrator

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