An act relating to personal income tax brackets

This bill creates two new personal income tax brackets in Vermont, applying a 11.75% tax rate to higher income levels. Specifically, it adds a bracket for married couples filing jointly with taxable income over $500,000 but not over $1,000,000, and a separate bracket for heads of households with income over $455,300 but not over $910,600. These changes directly affect high-income Vermont residents whose earnings fall within these new ranges. The bill modifies existing tax tables to adjust the rate structure for the top earners, maintaining the 13.75% rate for even higher income levels.