World 080719

Dan Driscoll
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CAPITOL ★ CITY’S
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223-6283
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page 6 The WORLD July 31, 2019
Rachael Kelder
Yes, we’re still here with the
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Rt. 14, Williamstown • 802-433-1038
WATERBORNE
PAINT SYSTEM
OPEN AT 5:00AM WEEKDAYS & 6:00AM SAT. & SUN.
OPEN UNTIL 10PM
NIGHT & WEEKEND HELP!
EVERY NIGHT THIS SUMMER!
Stop by for an application!
NOW CARRYING HEADY TOPPER AND OTHER GREAT VT CRAFT BEERS IN OUR ICE COLD CAVE!
Nabisco Oreos
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2/ $ 5
Gatorade
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5/ $ 5
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Premium 91 octane Non-ethanol Gasoline at the pumps
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Saturday 6:00am until 10:00pm, Sunday 6:00 am until 10:00pm
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Pork Loins
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$
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Sliced Slab Bacon
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Kayem Natural Casing
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SPECIALS GOOD THROUGH
★SUNDAY, AUG. 4★
Not responsible for
typographical errors.
Hellmann’s
Mayonnaise
30 oz. $ 3 99
Poland Springs
24 pk. - 16.9 oz.
1 @ reg price or
3/ $ 10
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$
3 88 /lb
Hood
Ice Cream
Assorted - 48 oz.
Coca Cola
24 pk. 12 oz. cans
$
5 99 + dep.
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1 @ $4.29 Or
2/ $ 7
$
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1.25 liter bottles
1 @ $1.29 or
2/ $ 2 22 + dep.
Fresh Chicken
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$
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Jordan’s Ballgame
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OPEN
EVERYDAY!
Rt. 14, Williamstown • 802-433-1038
DEBIT EBT/SNAP Cards Welcome
Governor Phil Scott Details Higher Education
Initiatives to Support Vermont Colleges,
Universities and Students
Governor Phil Scott today detailed efforts
to strengthen and expand higher education
opportunities in Vermont, an important
piece of the strategy to reverse the state’s
aging demographic and workforce challenges.
“As we work to grow our workforce and
help Vermonters move up in their careers,
our higher education system—which
includes traditional degree programs, as well
as trades training—plays a critical role,” said
Governor Scott. “Our state colleges and universities
not only provide the education and
training needed for our future workforce,
they also offer an incredible opportunity to
recruit and retain the Vermonters we need to
reverse our population trends.”
According to the 2017 State of Higher
Education in Vermont report, Vermont colleges
and universities attracted more than
44,000 students a year and employed more
than 11,000 Vermonters in 2015. More than
half of the students were from out-of-state.
An analysis by the Association of Vermont
Independent Colleges recently showed that
Vermont’s independent colleges alone contributed
more than $2 billion annually to
Vermont’s economy.
As part of the Fiscal Year 2020 budget, the
Vermont State Colleges received a $2.5 million
increase in their budget over 2019.
Governor Scott reiterated this increase helps
to make a Vermont State College education
accessible to more Vermonters seeking both
non-degree and degree programs.
“We appreciate the Governor’s recognition
of the Vermont State Colleges System’s
critical role in supporting Vermont’s workforce
and economy,” said VSC Chancellor
Jeb Spaulding. “Our colleges and universities
provide education and training essential to
Vermont employers and to the futures of our
students.”
The budget also included a one-time
increase of $500,000 for non-degree grants
offered by the Vermont Student Assistance
Corporation (VSAC). The Advancement
Grant program will help nearly 300
Vermonters access higher education programs
that don’t necessarily result in a twoor
four-year degree—a growing market for
Vermont higher education institutions.
“Increased funding in this program will
create real opportunities for Vermonters
who need education and training for jobs
that are waiting to be filled,” said Scott Giles,
president and CEO of VSAC. “We all hear
from employers every day about open positions
that can’t be filled. Many of those positions
require the education and training the
Legislative Changes Will Impact the Sale
of Capital Assets and Real Estate
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Advancement Grant program is providing
right now. We thank the Governor and the
Legislature for this commitment to a program
that both grows our economy and
helps working-age Vermonters achieve their
career and education goals.”
During Wednesday’s news conference,
Governor Scott also announced the inaugural
winners of two $5,000 “Choose Vermont”
Scholarships—a scholarship promotion
designed to attract new first-year students
who commit to attend Vermont colleges.
The winners are Kelsey True of Old
Saybrook, Connecticut who will attend the
University of Vermont to study nursing and
Brandon Ryan of Randolph, Vermont who
will attend Castleton University to study
political science.
“I chose to go to a college in Vermont
because of the high quality of education,”
said True. “UVM has one of the highest pass
rates for the national nursing test out of all
the schools I looked at, which means I will
come out of school being able to compete in
many hospitals. Being at a school in Vermont
will allow me to get a top-grade education,
while being able to do the outdoor activities
I love all year round.”
“I chose Vermont because I wanted to be
near my family and ultimately the affordability
of Vermont higher education,” said Ryan.
“College is very expensive and I’m glad that
Vermont is trying to make upcoming college
students’ lives easier.”
The Choose Vermont Scholarship program
is a collaboration between the Vermont
Agency of Commerce and Community
Development (ACCD), the Vermont Student
Assistance Corporation, the Association of
Vermont Independent Colleges and the
Vermont Higher Education Council. More
than 1,400 new Vermont students entered
the contest—roughly an equal number of
Vermonters and non-residents. The
Administration plans to run the contest
again next spring, as well as expand cooperative
marketing efforts with the colleges this
fall.
“We’re undertaking a wholistic approach
to solving Vermont’s worker shortage,” said
ACCD Secretary Michael Schirling. “We
must provide relevant and industry-demanded
training to our native high school and
college students, we need to attract more
out-of-state college students to Vermont and
retain those students in our workforce, and
we must import new working-age adults to
Vermont. Our colleges and universities play
a key role nearly every step of the way.”
In late May, the Vermont legislature made
two significant changes for 2019 which will
affect the sale of capital assets and real estate.
Both changes were in Act 71 and will take
effect July 1, 2019.
The first change is in the treatment of
capital gains as it relates to a taxpayer’s personal
income taxes. Under current law there
is a 40 percent exclusion for capital gains
which will be soon capped at $350,000 as of
July 1. This means that any gain above
$875,000 will be taxed at standard income
tax rates beginning on July 1, 2019.
“If you are currently considering the sale
of a large capital asset such as a business or
investment property that you have owned
for more than three years, the Department of
Taxes suggests you contact your tax preparer
for guidance immediately,” said Acting Tax
Commissioner Craig Bolio.
The second change is related to the transfer
of real estate or real property in Vermont.
Under current law, the Property Transfer
Tax only applies to the transfer of ownership
of real property by deed.
Effective July 1, the purchase of a controlling
interest in an entity holding title to real
property in the state of Vermont will trigger
a property transfer tax liability. Generally, a
controlling interest means 50 percent or
more of stock, capital, profits or beneficial
interest in an entity. The tax due from the
purchaser is calculated based on the fair market
value of the property.
The department will issue additional
guidance and links on its website as soon as
possible. Taxpayers who have questions
about these changes should contact their tax
preparers. A tax preparer who is most familiar
with the taxpayer’s circumstances will be
able to provide the most relevant and beneficial
guidance.
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