Filing Form BI-471 instead of BI-476

Corporations that meet the following qualifications may file Form BI-476.
  • All shareholders are Vermont residents.
  • Income or loss is derived exclusively from Vermont.
  • There are no differences between federal and Vermont depreciation.
  • The corporation doesn't qualify for an exception to the minimum entity tax.
UltraTax CS produces Form BI-476 for eligible corporations. Mark the
File Form BI-471 instead of Form BI-476
checkbox on the VTGen screen to override the selection of Form BI-476.
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