Vermont is offering remote workers $10000 to move to its state

Vermont is offering remote workers $10000 to move to its state

The goal is to draw more people to Vermont whose population is under 625,000 with 15,000 fewer workers than in 2009, according to a website of the state's governor, Phil Scott. Taxes. Remote workers will have to pay income taxes in Vermont, even on money earned outside the state.

The money - part of a grant program created to draw tech workers and revitalize the state's aging work force - is meant to help with costs like relocation, computer software and hardware, broadband access and membership in a shared professional space.

But there can be tax implications for living in one state and working in another.

Legislators introduced the program seeking to shift the population's demographics.

"The whole idea of getting more people is because we need to broaden the tax base. but if you are moving from NY, taxes are less here", said Joan Goldstein, the commissioner of economic development for Vermont.

The program would peak in 2020, when the state has been authorized to spend up to $250,000 on the incentives.

More than 13 million people visit Vermont on a yearly basis, Quartz reported, and the state is hoping it can convince some of them to stay in the state more permanently.

The new program comes as Vermont, like other rural states, faces an economy where high-paying jobs are increasingly found in expensive cities. About 25 remote workers each year will be able to benefit. Hence this new program, the New Remote Worker Grant Program, created to recruit young Millennial workers to Vermont.

Still you're interested to check it out, the state also launched a program called "Stay to Stay Weekends", aimed at getting tourists to relocate. The state has only budgeted for 100 grants to be given out over the next three years, on a first-come, first-serve basis beginning on January 1, 2019, and Goldstein says her office is already receiving inquiries.

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