General Provisions

V.S.A. tit. 32, ch. 211, subch. 1

in effect

32 V.S.A. § 8101 Imposition of tax

8101. Imposition of tax A State tax for the payment of State expenses is hereby assessed upon the property, business, or corporate franchises of railroad, insurance, guaranty, transportation, mortgage, loan, or investment companies and shall be payable in money to the Commissioner of Taxes for the use of the State as hereinafter provided. Amended 1997, No. 156 (Adj. Sess.), § 10, eff. April 29, 1998.

32 V.S.A. § 8102 Taxes a lien

8102. Taxes a lien All taxes imposed by this chapter shall be a first lien upon all property of the person or corporation required to pay such taxes, except as otherwise provided in this chapter, until the same are fully paid. All persons or corporations that purchase or otherwise acquire title to any of such property, except in the due course of business for which such corporation owning the same has been chartered, shall be liable to the State for all such taxes due or accrued at the time of such purchase or transfer of title.

32 V.S.A. § 8121 Formulation and distribution of returns

8121. Formulation and distribution of returns The Commissioner shall formulate forms requiring the statement of facts necessary to determine the amount of each tax prescribed in this chapter. On request, he or she shall furnish such forms by mail or otherwise to each person or corporation required to pay such tax. If he or she deems it necessary, he or she shall furnish forms to any person who may have acted as an agent or broker in this State for a foreign insurance or guaranty company not making returns to this State for the purpose of taxation, or who within this State may have solicited, arranged for, or effected a contract of insurance, guarantyship, or suretyship for another person with such foreign company.

32 V.S.A. § 8122 Execution of returns

8122. Execution of returns A person or corporation required by this chapter to pay a tax and all persons or corporations to whom the Commissioner sends forms shall fill out such forms, answer all interrogatories therein contained, and return the same as hereinafter provided. Such forms, so filled out, shall be subscribed and sworn to by the person making the return, if made by an individual or firm or, if made by a corporation, by its clerk, treasurer, or other proper officer.

32 V.S.A. § 8123 Time and place of filing

8123. Time and place of filing One copy of the form filled out and sworn to as provided in section 8122 of this title shall be returned at the expense of the party making the same to the Commissioner, and one copy shall be retained by the person or corporation making the return. When required to be made annually, such return shall be made and filed, except as otherwise provided in this chapter, on or before September 15 for the fiscal year ending with June 30 next preceding. When required to be made semiannually, such return shall be made and filed, except as otherwise provided in this chapter, on or before March 15 and September 15 for the semiannual periods ending with the last day of December and June next preceding, respectively.

32 V.S.A. § 8124 Time for payment of tax

8124. Time for payment of tax Within 30 days after making returns, except as otherwise provided in this chapter, the person or corporation making same shall forward to the Commissioner the amount of the annual or semiannual tax for the period covered by the returns.

32 V.S.A. § 8141 Examination of documents

8141. Examination of documents The Commissioner may examine any book, record, or paper of a corporation or person required by this chapter to make returns and pay a tax, concerning any matter as to which information is required to carry out the provisions of this chapter.

32 V.S.A. § 8142 Examination of officers, agents, and stockholders

8142. Examination of officers, agents, and stockholders On application of the Commissioner, a Justice of the Supreme Court or a Superior judge shall designate a master who may cite any officer, stockholder, agent, or clerk of a corporation or person required by this chapter to make returns or pay a tax to appear before him or her for examination upon oath by the Commissioner or to produce any book, record, or paper for inspection by the Commissioner concerning any matter as to which information is required to carry out the provisions of this chapter. By order of such Justice or judge, such testimony may be taken stenographically and transcribed in whole or in part for the use of the Commissioner, at the expense of the State. The fees and necessary expenses of a master so designated shall be fixed by the Justice or judge making the designation and paid by the State.

32 V.S.A. § 8143 Form and service of citation for examination

8143. Form and service of citation for examination Such citation shall issue and be served like a writ of summons and shall require the person therein named to appear within a reasonable time that shall be stated therein. When books, records, or papers are required to be produced, the same shall be designated in the citation. When it appears during a hearing that an inspection should be had of books, records, or papers other than those named in such citation, the master may order that such books, records, or papers be forthwith produced for such inspection by the Commissioner.

32 V.S.A. § 8144 Witness fees

8144. Witness fees Excepting an officer, stockholder of a corporation, or a person required by this chapter to file a return and pay a tax, a person cited to appear before a master, designated pursuant to section 8142 of this title, shall be allowed the same attendance and travel fees as witnesses in Superior Court. Such fees shall be paid by the State on the certificate of the Commissioner. Amended 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974.

32 V.S.A. § 8145 Failure to appear, be sworn, or testify

8145. Failure to appear, be sworn, or testify An officer, agent, clerk, or person who refuses to appear and be sworn or to testify as required by article 3 of this subchapter or to show the Commissioner the books, records, or papers as required by article 3 of this subchapter shall be fined not more than $5,000.00 nor less than $500.00.

32 V.S.A. § 8146 Additional tax; refunds

8146. Additional tax; refunds When the Commissioner finds that, owing to the incorrectness of a return or any other cause, a tax paid pursuant to this chapter is too small, he or she shall assess an additional tax sufficient to cover the deficit and shall forthwith notify the parties so assessed. The administrative provisions of chapters 103 and 151 of this title shall apply to assessments and refund claims under this chapter, including those provisions governing interest and penalties in section 3202 of this title, appeals, and collection of assessments. Amended 2015, No. 57, § 87, eff. June 11, 2015; 2015, No. 134 (Adj. Sess.), § 18, eff. May 25, 2016.

32 V.S.A. § 8147 False swearing outside the State

8147. False swearing outside the State When an officer of a corporation whose returns to the Commissioner are sworn to in another state willfully makes a false statement as to a material fact required in such returns, such corporation shall forfeit to this State the sum of $300.00.

32 V.S.A. § 8148 False swearing

8148. False swearing A person who willfully swears falsely to any return, statement, or certificate mentioned in this chapter or upon an examination before a master as provided in section 8142 of this title shall be guilty of perjury.

32 V.S.A. § 8162 Foreign corporations

8162. Foreign corporations When a foreign insurance, surety, or guaranty company, or an agent thereof fails to make returns or to pay the taxes as required in this chapter, the Commissioner shall notify the Commissioner of Financial Regulation thereof, who shall thereupon revoke the license of such company and its agents to do business in this State. Notice in writing of such revocation shall be mailed by the Commissioner of Financial Regulation to such company addressed to its principal office or place of business in the United States and to the Commissioner of Taxes. In the discretion of the Commissioner of Financial Regulation, such notice may be sent by mail or otherwise to any or all of the agents of such company residing in this State. The license of foreign loan, mortgage, or investment companies in like manner and for like causes shall be revoked by the Commissioner of Financial Regulation, and like notice thereof shall be given by such Commissioner. Amended 1989, No. 225 (Adj. Sess.), § 25(b); 1995, No. 180 (Adj. Sess.), § 38(a); 2011, No. 78 (Adj. Sess.), § 2, eff. April 2, 2012.

32 V.S.A. § 8171 Recovery of taxes and penalties

8171. Recovery of taxes and penalties Taxes imposed by this chapter may be recovered in the name of the State in a civil action, on the statute imposing them, returnable to any Superior Court. The penalties so imposed may be so recovered in a civil action on the statute imposing them. The amount of taxes assessed or penalties accrued up to the time of trial may be recovered in such suit, but a court wherein an action is pending to recover a forfeiture, in its discretion, may remit such part thereof as it shall deem just and equitable in the circumstances. The State shall not be required in any proceeding under this chapter to furnish recognizance or bond for costs, nor injunction bonds. Upon final judgment, the court may make such order relating to the payment of costs, by the State or the defendant, as it shall deem just and equitable. Amended 1965, No. 194, § 10, operative February 1, 1967; 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974; 2009, No. 154 (Adj. Sess.), § 219.

32 V.S.A. § 8172 Inconsistent laws repealed

8172. Inconsistent laws repealed So much of the charter of any corporation or company organized under the laws of this State as exempts such corporation from taxation, so far as it conflicts with this chapter, is hereby repealed.

Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/chapter/32/211Fetched: 10/21/2026