32 V.S.A. § 5820 — Purpose

(a) This chapter is intended to conform the Vermont personal and corporate income taxes
with the U.S. Internal Revenue Code, except as otherwise expressly provided, in order
to simplify the taxpayer’s filing of returns, reduce the taxpayer’s accounting burdens,
and facilitate the collection and administration of these taxes.
(b) It is intended that, for any taxable year, individuals, estates, and trusts shall
be taxed upon only their Vermont income for that year, but that the rate at which
the Vermont income of any taxpayer is taxed under this chapter shall reflect the taxpayer’s
ability to pay as measured by his or her adjusted gross income for the taxable year. (