On February 15, 2022, Michaelis testified before the Vermont Senate Finance Committee on Senate Bill 53, Vermont’s corporate income tax reform bill.  S. 53 proposes wide-sweeping changes to Vermont’s corporate income tax system, including:  repeal of the “overseas business organization” (80/20 company) provisions; increases to the minimum tax; shifting from a three-factor formula to a single sales factor for apportionment; repeal of the throwback rule for sales; and shifting the sales factor from a Joyce to a Finnigan method.  Michaelis has been a Vermont attorney since 2012 and has participated in numerous policy and technical discussions relating to Vermont’s tax system.