Title 32, Title 32: Taxation and Finance

§ 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…

§ 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.

§ 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.

§ 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 …

§ 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 produc…

§ 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 trav…

§ 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 s…

§ 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 p…

§ 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…

§ 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.

§ 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 revok…

§ 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 imposin…

§ 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.

§ 8211. Rate of tax and time of payment (a) For each taxable year, there is assessed upon the appraised value of the property and corporate franchise of each person or corporation owning or operating a railroad located in whole or in part within this State a tax at the rate of on…

§ 8212. Liability of lessees When a railroad is operated in this State by a person or corporation under a lease or other contract, taxes assessed thereon under the provisions of section 8211 of this title shall be paid by the lessee of such railroad or holder of such contract and…

§ 8241. Annual report required; contents A person or corporation owning or operating a railroad located in whole or in part in this State, annually, on or before July 1, shall file with the Commissioner a sworn copy of the Interstate Commerce Commission report and, upon forms to …

§ 8242. Reports on fiscal year basis The Commissioner may permit a person or corporation required to report to him or her under the provisions of section 8241 of this title, which has an established system of bookkeeping or accounting covering a fiscal year ending at a time other…

§ 8261. Railroad property The words “property acquired, constructed, or used for railroad business or purposes” as used in this chapter and except as otherwise provided shall include all franchises, rights-of-way, roadbeds, tracks, bridges, stations, terminals, rolling stock, equ…

§ 8281. Railroad operating wholly in State The Director shall appraise at its fair and just value all property acquired, constructed, or used for railroad business or purposes held, possessed, or owned by a person or corporation operating a railroad located entirely within this S…

§ 8282. Road operating within and outside the State When a person or corporation operates a line of railroad located partly within and partly outside this State, except as otherwise provided, the Director shall appraise at its fair and just value all property within this State ac…

§ 8283. Single or separate appraisals In appraising the property specified in sections 8281 and 8282 of this title, except as otherwise provided, the Director may include in a single appraisal and valuation all such property so held, possessed, or owned by such person or corporat…

§ 8284. Appraised value as true value For the purpose of taxation under the provisions of section 8211 of this title, such appraised valuation when made as aforesaid, except as otherwise provided, shall be taken to be the true value of such properties and franchises within this S…

§ 8285. Defective, insufficient, or invalid appraisals When for any cause an appraisal required under the provisions of this article or article 6 of this subchapter is omitted or is found to be defective, insufficient, or invalid, the Director thereupon may make a new appraisal o…

§ 8286. Property exempt from appraisal The aforesaid appraisals shall not include the following classes of property owned by railroad companies: tenement houses and the lands whereon the same are located; lands or buildings leased to or occupied by another person or corporation f…

§ 8321. General rule All appraisals made under the provisions of article 4 of this subchapter shall be made in each even year on or before December 31. (Amended 1975, No. 43, § 3, eff. April 14, 1975; 1997, No. 156 (Adj. Sess.), § 12, eff. April 29, 1998.)

§ 8322. Subsequent appraisals (a) When, subsequent to the date whereon such appraisals are required to be made, trains, other than construction trains, commence running on a railroad located in whole or in part within this State or on any extension or branch of a railroad thereto…

§ 8341. Record of appraisals On or before January 15 following any appraisal made under the provisions of articles 4 and 6 of this subchapter, the Commissioner shall make a record thereof in a book kept in the Commissioner’s office for that purpose. (Amended 1997, No. 156 (Adj. S…

§ 8342. Sufficiency of record and notice A record of notice of such appraisals showing, among other things, that all of the property within this State acquired, constructed, or used for railroad business or purposes and held, possessed, or owned by a person or corporation so oper…

§ 8343. Notice of appraisal; time appraisal in force On or before January 15 following such appraisals, the Commissioner shall notify in writing, by mail or otherwise, every person or corporation operating a railroad located in whole or in part within this State of the amount of …

§ 8344. Definition of representative; notice The person or corporation operating a railroad in this State shall be the representative of every title and interest in property acquired, constructed, or used in the operation and business thereof as owner, lessee, or otherwise. Notic…

§ 8361. General rules for appeals (a) A party aggrieved, including the State represented by the State Treasurer, on or before February 15 following such an appraisal, may appeal therefrom to a Superior judge designated by the Chief Superior Judge, not excluding themselves, who sh…

§ 8362. Procedure The judge shall establish rules and regulations relative to the time and method of hearing and determining appeals as the judge shall deem just, provided that the appeal shall be finally determined and the appraisal by the judge made and established on or before…

§ 8363. Appraisal invalid in part When an action is pending to recover a tax assessed upon an appraisal made under the provisions of articles 4 and 6 of this subchapter and it shall be therein determined that such appraisal is valid in part, the court shall render judgment for so…

§ 8394. Petition and hearing for relief from taxes Upon the written petition of any railroad corporation operating a railroad located in whole or in part within this State, setting forth that the financial condition of such corporation is such that the payment of any taxes assess…

§ 8395. Findings Upon hearing, if the Commission finds that the enforced payment of the taxes would imperil the continued operation of the railroad and that the suspension of collection thereof would promote the general good of the State, it shall certify its findings to the Gove…

§ 8396. Reducing tax claims in reorganization plans In the event that a plan for the financial reorganization of any such railroad corporation shall be proposed, involving as an element thereof, a compromise or reduction of the claim of the State for unpaid taxes, and notice ther…

§ 8397. Acceptance of plan If the Commission finds and reports that the proposed plan of reorganization is fair, feasible, and practicable; that, if consummated, it will result in the continuous operation of the railroad for the benefit of the public served thereby; that there is…

§ 8398. Revocation of waiver or compromise upon failure of railroad Should any such railroad cease operation, whether because of failure of consummation of any feasible plan of reorganization or for any other reason, then and in such event the provisions of this article relating …

§ 8521. Imposition and rate of tax [Repealed effective July 1, 2026] (Amended 1961, No. 118, § 1, eff. Jan. 1, 1962; 1969, No. 144, § 14; 1985, No. 165 (Adj. Sess.), § 3, eff. May 5, 1986; 1987, No. 210 (Adj. Sess.), § 1; 1991, No. 32, § 38, eff. May 18, 1991; 1995, No. 29, § 18,…

§ 8551. Imposition, rate, and basis of tax A domestic or foreign insurance company, association, or society, other than life, or a surety or guaranty company, doing business in this State, shall pay a tax to the State, which is hereby assessed at the rate of two percent per annum…

§ 8552. Returns A domestic insurance company, association, or society, other than life, or surety or guaranty company shall pay a tax to the State on the gross amount of premiums and assessments written and not taxed in other states, and shall pay a tax to the State on the gross …

§ 8553. Time of payment Such tax shall be based upon the business of such company, association, or society during the year terminating with December 31 preceding. It shall be paid quarterly on or before the last day of the second calendar month following the quarter ending the la…

§ 8554. Deductions In determining the amount of taxes to be assessed under the provisions of sections 8551 and 8552 of this title, there shall be deducted from the full amount of such premiums and assessments all sums paid for return premiums on cancelled policies upon risk locat…

§ 8555. Reciprocal provisions If another state or country imposes upon or requires of a domestic insurance, surety, or guaranty company or its agents doing business therein, taxes exceeding those imposed by this State upon or required of foreign insurance, surety, or guaranty com…

§ 8556. Exemption For the purposes of this subchapter, a continuing care retirement community certified under 8 V.S.A. chapter 151 shall not be deemed to be an insurance company or other entity subject to the tax imposed by this subchapter. (Added 1987, No. 247 (Adj. Sess.), § 2.…

§ 8557. Vermont Fire Service Training Council (a)(1) Sums for the expenses of the operation of training facilities and curriculum of the Vermont Fire Service Training Council not to exceed $1,500,000.00 per year shall be paid to the Fire Safety Special Fund created by 20 V.S.A. §…