A Quick Glance at Vermont

Vermont, whose nickname is The Green Mountain State, first obtained its statehood in 1791. With a population of 626,630 people, Vermont is the forty-nineth most populated state in the United States.

If you are considering starting your new business in Vermont, you might want to look into one of Vermont's top three most populous cities - Burlington, South Burlington or Rutland and also in the state's capital of Montpelier.

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Top Industry

The largest industry in the state of Vermont is hospitals and nursing and residential care facilities.

• The gross domestic product (GDP), of this industry, is roughly $1.3 billion and accounts for 4.2% of Vermont's GDP.
• Hospitals and nursing and residential care facilities also employs 6% of Vermont's private workforce.

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Small Businesses

In the United States, the more than 600,000 plus franchised small busineeses account for 40% of all retail sales and provide jobs for some 8 million people. According to the Small Business Administration (SBA), their standard definition of what constitutes as a small business includes a maximum of 500 employees or operations with and/or up to $7 million in revenue, depending on the industry.

• There are 156,243 small businesses, in the state, of Vermont.
• Small businesses in Vermont, make up 45.1% of the state's private workforce.

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State and Local Taxes

Listed below are the state and local taxes, for the state of Vermont, and how they rank against other states in the U.S.

California has the highest state tax rate in the United States at 7.25%, but Lousinana has the highest combined tax rate, overall, at 9.98%. Delaware, Montana, New Hampshire and Oregon share the spot for lowest combined tax rates at 0%.

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Additional Information

If you need additional information about how to start a business in Vermont, their official state page might be a good place to start. If you are looking to own your own established franchise in Vermont, we have collected a comprehensive list of companies that are actively looking to expand in Vermont, for you to explore.