Investor Presentaiton

Caveat regarding non-tax revenues • ITEP does not include non-tax revenues • • Many forms of non-tax revenue are collected in a manner that is disconnected from ability to pay and may be regressive • For example, road tolls and public parking are based on the use of a service and are charged at the same rate regardless of one's income • Court fees and fines can be particularly onerous for low-income and historically marginalized communities Some excluded revenues may be progressive • Estate and inheritance taxes, real estate transfer taxes Excluded portion of corporate income taxes paid by out-of-state payers According to ITEP Appendix C, in fiscal year 2021, Vermont got 21.6% of its own-source revenue from non-tax revenue • Alaska got 62.7% from non-tax revenue (due to their severance taxes on oil extraction) New Hampshire got 24.5% from non-tax revenue DJFO 1 Baldwin Street Montpelier, VT 05633-5701 (802) 828-2295 https://ljfo.vermont.gov 14

View entire presentation