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Payroll Vermont, Unique Aspects of Vermont Payroll Law and Practice

The Vermont State Agency that oversees theThe Vermont new hire-reporting agency can be
collection and reporting of State incomereached at 800-786-3214 or 802-241-2194 or on
taxes  deducted  from  payroll  checks  is:the  web  at
Department  of  TaxesVermont does not allow compulsory direct
deposit
109  State  Street
Vermont requires the following information on
Montpelier,  VT  05609-1401an  employee's  pay  stub:
(802)  828-2551-  Gross  and  Net  Earnings
Vermont allows you to use the "W-4VT, Vermont-  straight  time  and  overtime  pay
Employee Withholding Allowance Certificate"
form to calculate state income tax-  hours  worked
withholding  or  federal  W4  form.
-  itemized  deductions
Not all states allow salary reductions made
under Section 125 cafeteria plans or 401(k)Vermont requires that employee be paid no
to be treated in the same manner as the IRSless often than weekly; biweekly or
code allows. In Vermont cafeteria plans aresemimonthly  if  employer  gives  notice.
not taxable for income tax calculation;
taxable for unemployment insurance purposes.Vermont requires that the lag time between
401(k) plan deferrals are not taxable forthe end of the pay period and the payment of
income taxes; taxable for unemploymentwages to the employee not exceed six days; 13
purposes.under  union  contract.
In Vermont supplemental wages are taxed at aVermont payroll law requires that
7.2%  flat  rate.involuntarily terminated employees must be
paid their final pay with in 3 working days
Magnetic media reporting of W-2s is notand that voluntarily terminated employees
allowed  in  Vermont.must be paid their final pay by the next
regular payday; if there is none, next
The Vermont State Unemployment InsuranceFriday.
Agency  is:
There is no provision in Vermont law
Department  of  Employment  and  Trainingconcerning  paying  deceased  employees.
5  Green  Mountain  Dr.Escheat laws in Vermont require that
unclaimed wages be paid over to the state
P.O.  Box  488after  two  years.
Montpelier,  VT  05601-0488There is no provision in Vermont law
concerning record retention of abandoned wage
(802)  828-4344records.
(877)  214-3331Vermont payroll law mandates no more than
$3.35  may  be  used  as  a  tip  credit.
The State of Vermont taxable wage base for
unemployment purposes is wages up toIn Vermont the payroll laws covering
$8000.00.mandatory rest or meal breaks are only that
all employees be given a reasonable
Vermont has optional reporting of quarterlyopportunity to eat and use toilet facilities.
wages  on  magnetic  media.
There is no provision in Vermont law
Unemployment records must be retained inconcerning record retention of wage and hour
Vermont for a minimum period of six years.records therefor it is probably wise to
This information generally includes: name;follow  FLSA  guidelines.
social security number; dates of hire, rehire
and termination; wages by period; payroll payThe Vermont agency charged with enforcing
periods and pay dates; date and circumstancesChild  Support  Orders  and  laws  is:
of  termination.
Office  of  Child  Support
The Vermont State Agency charged with
enforcing  the  state  wage and hour laws is:Agency  of  Human  Services
Department  of  Labor  and  Industry103  S.  Main  St.
Wage  and  Hour  DivisionWaterbury,  VT  05671-1901
National  Life  Bldg.,  Drawer  20(800)  786-3214
Montpelier,  VT  05620-3401Vermont has the following provisions for
child  support  deductions:
(802)  828-2157
- When to start Withholding? 10 days after
The minimum wage in Vermont is $7.00 perreceipt  of  order  or  next  payday.
hour.
- When to send Payment? Within 7 days of
The general provision in Vermont concerningPayday.
paying overtime in a non-FLSA covered
employer is one and one half times regular- When to send Termination Notice? Within
rate  after  40-hour  week.10  days  of  termination.
Vermont State new hire reporting requirements- Maximum Administrative Fee? $5 per
are that every employer must report every newmonth.
hire and rehire. The employer must report
the  federally  required  elements  of:- Withholding Limits? Federal Rules under
CCPA.
-  Employee's  name
Please note that this article is not updated
-  Employee's  addressfor changes that can and will happen from
time  to  time.
-  Employee's  social  security  number
Charles J. Read, CPA has been in the payroll,
-  Employer's  nameaccounting and tax business for 30 years,the
last fifteen in private practice. Mr. Read
-  Employers  addressis the author of "Tax and Accounting Issuesin
Forming  a  New  Business."
- Employer's Federal Employer Identification
Number (EIN)To find professional payroll services at a
budget price go to paperless payroll
This information must be reported within 20company.
days  of  the  hiring  or  rehiring.
For a full service payroll bureau with CPA's
The information can be sent as a W4 oron  staff  visit .
equivalent  by  mail,  fax or electronically.
See an excerpt of Mr. Read's interviews from
There is a $500 penalty for conspiracy inWilliam Shatner's "Heartbeat of
Vermont.America"television show on the web sites
linked above.



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