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Vermont will cover $10K of expenses for people who move there and work remotely

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Re: Vermont will cover $10K of expenses for people who move there and work remotely

#51

Post by NeutronStar »

jackhack wrote: post #19

For many, this won't even begin to offset the increase in income and property taxes from this notoriously high-tax state. Individual or business, you're likely to pay more. http://money.cnn.com/gallery/smallbusiness/2012/10/15/state-... >>The income tax has a top rate of 8.95%. This ranks as the sixth-highest in the U.S., although it only applies to taxpayers making over $413,350 per year. Meanwhile, total state and…

Can't you deduce state tax from federal income? It's really weird seeing the US get scared of a 8% tax. Those taxes are services after all.

Re: Vermont will cover $10K of expenses for people who move there and work remotely

#52

Post by ainiriand »

unit91 wrote: post #6

From the law: > (3) The Agency shall award grants under the Program on a first-come, first-served basis, subject to available funding, as follows: (A) not more than $125,000.00 in calendar year 2019... With such a small budget, it seems like the actual intent may have been to allocate up to $125K to generate advertising about their state. https://legislature.vermont.gov/assets/Documents/2018/Docs/B...

If they plan to give a grant of 10k from a total of 125k do you know if they intend to give it to 12.5 persons willing to relocate? Strange figures.

Re: Vermont will cover $10K of expenses for people who move there and work remotely

#53

Post by jimhefferon »

jackhack wrote: post #19

For many, this won't even begin to offset the increase in income and property taxes from this notoriously high-tax state. Individual or business, you're likely to pay more. http://money.cnn.com/gallery/smallbusiness/2012/10/15/state-... >>The income tax has a top rate of 8.95%. This ranks as the sixth-highest in the U.S., although it only applies to taxpayers making over $413,350 per year. Meanwhile, total state and…

> notoriously high-tax state

Some societies think that it is wise to spend on some things such as education (see https://www.washingtonpost.com/news/local/wp/2015/06/02/the-...). Others think that lowering taxes at whatever cost is better. The former fits with my thinking, which is why I like it here.

Re: Vermont will cover $10K of expenses for people who move there and work remotely

#54

Post by wil421 »

ggg9990 wrote: post #15

Northern New England will have to get its heroin problem under control before it will be appealing to the “remote programmer moving to rural area for peace and quiet and lower cost of living.”

Right and the massive homeless/drug problem in California is preventing folks from moving to SF.

Re: Vermont will cover $10K of expenses for people who move there and work remotely

#55

Post by verelo »

ainiriand wrote: post #52
unit91 wrote: post #6

From the law: > (3) The Agency shall award grants under the Program on a first-come, first-served basis, subject to available funding, as follows: (A) not more than $125,000.00 in calendar year 2019... With such a small budget, it seems like the actual intent may have been to allocate up to $125K to generate advertising about their state. https://legislature.vermont.gov/assets/Documents/2018/Docs/B...

If they plan to give a grant of 10k from a total of 125k do you know if they intend to give it to 12.5 persons willing to relocate? Strange figures.

Given it's "up to $10k" it could easily be 125 people at $1k each.

Re: Vermont will cover $10K of expenses for people who move there and work remotely

#56

Post by Spooky23 »

gk1 wrote: post #18
unit91 wrote: post #6

From the law: > (3) The Agency shall award grants under the Program on a first-come, first-served basis, subject to available funding, as follows: (A) not more than $125,000.00 in calendar year 2019... With such a small budget, it seems like the actual intent may have been to allocate up to $125K to generate advertising about their state. https://legislature.vermont.gov/assets/Documents/2018/Docs/B...

Yes, I was surprised by this: > Vermont has budgeted grants for about 100 new remote workers in the first three years of the program and about 20 additional workers per year for every year after. Vermont lost 10,000 working-age residents over the past five years.[1] This plan will (in theory) recover just ~1% of that. Maybe they're monitoring reactions to this announcement before they put more money into the program?…

With skiing in the east an industry in rough shape since it doesn't snow anymore, and agriculture in a slow death spiral, Vermont is trying to embrace it's potential as a bedroom community for NYC and Boston.

Burlington is a cool little city and the countryside is beautiful as well. If they can use a small program like this to stimulate some cadre of "pioneers", they'll get alot of value, and perhaps some improved outlooks for underutilized former IBM people.

Re: Vermont will cover $10K of expenses for people who move there and work remotely

#57

Post by readhn »

honestly $10000 is not a lot of money these days to make someone move to a different state. Make it $50,000-100,000 in tax credits and people will consider. They have to be more aggressive with their offer in order to have any decent amount of response.

$10000 does not even buy you a decent cheap car.

Re: Vermont will cover $10K of expenses for people who move there and work remotely

#58

Post by eertami »

lotsofpulp wrote: post #31
protonimitate wrote: post #5

Earlier quoted context omitted.

I think it's great remote work is starting to catch on. I think it could help revitalize a lot of the rural areas just outside of major metro footprints. I am also born and raised New England, NH and ME could also benefit from this type of program (although Portland seems to be more up and coming). There's a lot of really good reasons to escape the Boston bubble, but unfortunately companies are holding tight to brick…

In my experience, proportionally, more smart young people who have the skills for tech work prefer living in cities with other like minded people. So if you want to hire them, you have to be there otherwise someone else will employ them.

Then have the office in the city and allow remote work as an option, best of both?

I've done both, a lot for those smart young people you mention, often lack hobbies, and those ones are extremely boring. I'd rather remote in from a mountain town where I can ski, mountain bike and hike than suffer year round with decreased QoL of a city.

Re: Vermont will cover $10K of expenses for people who move there and work remotely

#59

Post by Spooky23 »

NeutronStar wrote: post #51
jackhack wrote: post #19

For many, this won't even begin to offset the increase in income and property taxes from this notoriously high-tax state. Individual or business, you're likely to pay more. http://money.cnn.com/gallery/smallbusiness/2012/10/15/state-... >>The income tax has a top rate of 8.95%. This ranks as the sixth-highest in the U.S., although it only applies to taxpayers making over $413,350 per year. Meanwhile, total state and…

Can't you deduce state tax from federal income? It's really weird seeing the US get scared of a 8% tax. Those taxes are services after all.

The recent tax changes cap that at $10k, which is a problem for high-income people in blue states.

Re: Vermont will cover $10K of expenses for people who move there and work remotely

#60

Post by beamatronic »

NeutronStar wrote: post #51
jackhack wrote: post #19

For many, this won't even begin to offset the increase in income and property taxes from this notoriously high-tax state. Individual or business, you're likely to pay more. http://money.cnn.com/gallery/smallbusiness/2012/10/15/state-... >>The income tax has a top rate of 8.95%. This ranks as the sixth-highest in the U.S., although it only applies to taxpayers making over $413,350 per year. Meanwhile, total state and…

Can't you deduce state tax from federal income? It's really weird seeing the US get scared of a 8% tax. Those taxes are services after all.

It’s now capped at $10k with last years tax law change
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