BI-472: Non-Composite Schedule (2024)
Vermont · Vermont Department of Taxes · Used for tax years 2024
Vermont Schedule BI-472 is the 2024 Non-Composite schedule included with Form BI-471. It reports income attributable to Vermont and the portion passed through to nonresidents, and calculates the nonresident estimated payment requirement.
What you'll need
Have these forms and details ready to complete the 2024 schedule:
- Form BI-471: Use the same entity name and include Schedule BI-472 with this form.
- Schedule BI-477: Use the income attributable to Vermont from Line 31.
- The entity’s FEIN and fiscal year ending date in YYYYMMDD format.
- Any other adjustments to income attributable to Vermont.
- The percentage of total Vermont-attributable income passed through to nonresidents.
How to file
Include the completed 2024 Schedule BI-472 with Form BI-471. Print in blue or black ink and enter all amounts in whole dollars.
Common mistakes
- Entering cents: The form says to enter all amounts in whole dollars.
- Using a different entity name: The entity name must be the same as on Form BI-471.
- Using the wrong ink: Print in blue or black ink.
- Leaving the schedule separate: Include it with Form BI-471.
- Using a different date format: Enter the fiscal year ending date as YYYYMMDD.
Questions people ask
Where does the income on Line 1 come from?
Use the income attributable to Vermont from Schedule BI-477, Line 31.
How do I calculate total income attributable to Vermont?
Enter other adjustments on Line 2. Add Lines 1 and 2 and enter the total on Line 3.
How do I calculate income passed through to nonresidents?
Enter the percentage of Line 3 income passed through to nonresidents on Line 4. Multiply Line 3 by that percentage and enter the result on Line 5.
How do I calculate the nonresident estimated payment requirement?
For the 2024 schedule, multiply Line 5 by 6.6% (0.066) and enter the result on Line 6.