Payment of Income Taxes

V.S.A. tit. 32, ch. 151, subch. 7

in effect

32 V.S.A. § 5871 Payments by individuals, trusts, and estates

5871. Payments by individuals, trusts, and estates In the case of individuals, trusts, and estates, the income tax liability imposed by this chapter shall be discharged as follows: (1) In the case of those taxpayers whose wages are subject to withholding, by periodic withholding within the taxable year for which the tax is imposed, or within such longer period as the Commissioner by regulation may prescribe. (2) In the case of those taxpayers required to make installment payments of estimated non-withheld tax under subchapter 5 of this chapter by those payments. (3) All income tax liabilities not theretofore discharged by withholding or installment payments shall be paid on or before the date when the return of the taxpayer for the taxable year is required to be filed. Added 1966, No. 61 (Sp. Sess.), § 1, eff. Jan. 1, 1966.

32 V.S.A. § 5872 Payment by corporations

5872. Payment by corporations In the case of corporations, if the income tax liability is, or is expected to be, in excess of $500.00, the income tax liability imposed by this chapter shall be discharged in accordance with subchapter 5A of this chapter; any balance due shall be paid on or before the date on which the return of the corporation for the taxable year is required to be filed (determined with regard to any extension of time for filing). Payments made under extension are subject to interest pursuant to section 5868 of this title. Added 1966, No. 61 (Sp. Sess.), § 1, eff. Jan. 1, 1966; amended 1971, No. 73, § 19, eff. April 16, 1971; 1975, No. 1 (Sp. Sess.), § 12, eff. Jan. 1, 1976; 1979, No. 105 (Adj. Sess.), § 8; 1989, No. 119, § 7, eff. June 22, 1989.

32 V.S.A. § 5873 Extension of time for payment

5873. Extension of time for payment For good cause shown, the Commissioner may extend the time for the payment of any tax liability, but the taxpayer shall pay, at the time the tax liability is paid, without assessment or demand, interest computed at the rate per annum established from time to time by the Commissioner pursuant to section 3108 of this title on the unpaid amount of that tax liability from the time when the liability was originally due to the time of payment. Added 1966, No. 61 (Sp. Sess.), § 1, eff. Jan. 1, 1966; amended 1979, No. 105 (Adj. Sess.), § 9; 1981, No. 191 (Adj. Sess.), § 7.

32 V.S.A. § 5874 Method of payment

5874. Method of payment All tax liabilities imposed by this chapter may be paid pursuant to section 3110 of this title. A tax liability may be paid with uncertified check, but if an uncertified check is not honored by the bank on which it is drawn, the taxpayer shall remain liable for the payment of the tax and for all lawful penalties and interest, in the same manner as if the check had not been tendered. Added 1966, No. 61 (Sp. Sess.), § 1, eff. Jan. 1, 1966; amended 2021, No. 73, § 5.

32 V.S.A. § 5875 Repealed. 1997, No. 156 (Adj. Sess.), § 37.

Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/chapter/32/151Fetched: 10/21/2026