Vermont Updates ACH Credit Processing Instructions

January 16, 2018 Paul Ogawa

Vermont recently published an updated version of Publication MTT-600, the Vermont Department of Taxes ACH Credit Processing Instructions. This publication provides information to taxpayers regarding electronic payments using the ACH Credit Payment system through the VTax web portal.

 

Other than formatting updates, there are a few updates to this publication, which are as follows:

  • Under “Tax Amount Type” in the Addenda Record Format, two types were added with the recent update:
    • Extension Payment (Content “X”): Used to make an extension payment. Please note that a separate application for extension is not necessary. This type of payment will be treated as an extension application.
    • Health Care Contribution (Content “S”): Used to pay the Health Care Contribution due in connection with a return. This must be used in conjunction with a withholding tax type code and a “T” tax amount type. See sample addenda records on page 5. If no withholding tax is due, enter 0 after “T”.
  • Additional examples were added to the Sample Addenda 7 Records on the last two pages of the publication.

To review these instructions in full, please click here.

About the Author

Paul Ogawa is a Junior Regulatory Counsel at Sovos Compliance. As part of the Regulatory Analysis team, his main areas of focus are state and federal tax withholding, the Affordable Care Act (ACA), and Canadian tax information reporting. Prior to Sovos, Paul worked as a litigation attorney in Boston area law firms, representing clients in insurance subrogation claims, family law matters, and employment disputes. Paul is a member of the Massachusetts Bar, earned his B.A. from Brandeis University and his J.D. from the Suffolk University Law School.

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