Vermont’s form for submitting taxes withheld has enough boxes on the “Vermont Income Tax Withheld” line for an employer to withhold $999,999,999,999.99 per quarter.
Yes, that’s one cent shy of $1 trillion in state taxes. Vermont’s overall personal income tax collections for 2008 totaled $622 million and change ($83,042 in change, but who’s counting?), a quarter of which would be $155.5 million. So, I suppose that if Vermont has one exceptionally large employer, accounting for two thirds of all salaries in Vermont, one could actually use all those boxes.
It really makes my contribution seem rather measly, though. It’ll take some growth before I’ll be contributing $100,000,000+ in state income tax on a quarterly basis, even assuming I discriminate based on geographical origin and hire all future employees from Vermont.
(“Some growth” = using loose assumptions, and ignoring scaling issues, my customer base would need to include roughly one missionary for every ten people on the planet. Give or take.)
