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Vermont will pay you $10,000 to relocate. Here's why

04 June 2018

Phil Scott has signed into law a bill that will pay those new residents up to $10,000, in an effort to attract younger people to the state. Taxes. Remote workers will have to pay income taxes in Vermont, even on money earned outside the state.

According to state officials and the official summary of the new legislation, the financial incentive is meant to help cover a worker's moving costs and business expenses related to working remotely, such as for new technology.

Those who relocate and take part in the program need to be full-time employees of a business based outside of Vermont and need to be able to work remotely.

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In addition to the grants, Vermont is employing several strategies to entice workers to come to the state.

The legislation is an attempt to bolster an aging population in Vermont. He also said that more funds will be sought if the programme proves to be successful. Subsequent calendar years' grants are to not exceed $100,000 annually.

"We have about 16,000 fewer workers than we did in 2009", Scott said in a statement, according to CNBC.

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The bill, signed by Vermont governor Phil Scott, has budgeted grants for almost 100 new remote workers in the first three years of the program, and 20 additional workers per year for every year after. They also must become a full-time Vermont resident in 2019. Vermont has an offer for you.

In 2020, the program is expected to receive up to $250,000, then $125,000 in 2021. Current residents of the Green Mountain State are not eligible. "We need more people".

Tourists who plan their trips to the state during one of the designated weekends from April to October have the opportunity to network with employers, entrepreneurs, and realtors.

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To qualify for the new program, you must work remotely and full time for a business not located in Vermont and establish state residency by January 1, 2019.

Vermont will pay you $10,000 to relocate. Here's why