Title 32, Title 32: Taxation and Finance

§ 7812. Liability for collection of tax The licensed wholesale dealer shall be liable for the payment of the tax on tobacco products that he or she imports or causes to be imported into the State or that he or she manufactures in this State, and every licensed wholesale dealer au…

§ 7813. Returns and payment of tax by licensed wholesale dealer Every licensed wholesale dealer shall, on or before the 15th day of each month, file with the Commissioner a return on forms to be prescribed and furnished by the Commissioner showing the quantity and wholesale price…

§ 7814. Floor stock tax (a) Snuff. A floor stock tax is hereby imposed upon every retail dealer of snuff in this State in the amount by which the new tax exceeds the amount of the tax already paid on the snuff. The tax shall apply to snuff in the possession or control of the reta…

§ 7815. Licensed wholesale dealers All resident licensed wholesale dealers within the State are required to pay the tax on tobacco products for which they may be liable. A person outside this State who ships or transports tobacco products to retailers in this State, to be sold by…

§ 7816. Records to be kept; examination At the time of delivering other tobacco products, snuff, or new smokeless tobacco to any person, each licensed wholesale dealer shall make a true duplicate invoice showing the date of delivery; and the items; and the wholesale price of each…

§ 7817. Determination of tax on failure to file return (a) When the Commissioner discovers, by examination of the records of the taxpayer as provided in section 7816 of this title or otherwise, that a person required to file a return under this subchapter has filed an incorrect o…

§ 7818. Tax as debt to the State A tax on tobacco products imposed by this subchapter and all increases, interest, and penalties thereon shall become, from the date it is due and payable, a personal debt from the person liable to pay the same to the State of Vermont, to be recove…

§ 7819. Refunds Whenever any tobacco products upon which the tax has been paid have been sold and shipped into another state for sale or use there, or have become unfit for use and consumption or unsalable, or have been destroyed, the licensed wholesale dealer shall be entitled t…

§ 7821. Criminal penalties Any person who shall fail, neglect, or refuse to comply with or shall violate the provisions of this chapter relating to the tax on tobacco products or the rules adopted by the Commissioner under this chapter relating to such tax shall be guilty of a mi…

§ 7822. Application of provisions The provisions of subchapters 1-3 of this chapter shall apply to the tobacco products tax imposed by this subchapter unless they are clearly applicable only to the tax on cigarettes and the enforcement thereof. (Added 1959, No. 231, § 7.)

§ 7823. Deposit of revenue The revenue generated by the taxes imposed under this chapter shall be credited to the General Fund. (Added 1995, No. 14, § 8; amended 1999, No. 152 (Adj. Sess.), § 272a; 2005, No. 215 (Adj. Sess.), § 314; 2009, No. 1 (Sp. Sess.), § E.307.3, eff. June 2…

§ 7901. Definitions As used in this chapter: (1) “Cannabis” has the same meaning as in 7 V.S.A. § 831. (2) “Cannabis cultivator” has the same meaning as in 7 V.S.A. § 861. (3) “Cannabis product” has the same meaning as in 7 V.S.A. § 831. (4) “Cannabis product manufacturer” has th…

§ 7902. Cannabis excise tax (a) There is imposed a cannabis excise tax equal to 14 percent of the sales price of each retail sale in this State of cannabis and cannabis products, including food or beverages. (b) The tax imposed by this section shall be paid by the purchaser to th…

§ 7903. Liability for tax (a) Any tax collected in accordance with this chapter shall be deemed to be held by the retailer or integrated licensee in trust for the State of Vermont. Any tax collected under this chapter shall be accounted for separately so as clearly to indicate th…

§ 7904. Returns; records (a) Any retailer or integrated licensee required to collect the tax imposed by this chapter shall, on or before the 25th day of every month, return to the Department of Taxes, under oath of a person with legal authority to bind the retailer or integrated …

§ 7905. Bundled transactions (a) Except as provided in subsection (b) of this section, a retail sale of a bundled transaction that includes cannabis or a cannabis product is subject to the cannabis excise tax imposed by this chapter on the entire sales price of the bundled transa…

§ 7906. License (a) Any retailer or integrated licensee required to collect tax imposed by this chapter must apply for and receive a cannabis retail tax license from the Commissioner for each place of business within the State where he or she sells cannabis or cannabis products p…

§ 7907. Administration of the cannabis excise tax (a) The Commissioner of Taxes shall administer and enforce this chapter. The Commissioner may adopt rules pursuant to 3 V.S.A. chapter 25 to carry out such administration and enforcement. (b) To the extent not inconsistent with th…

§ 7908. Statutory purpose The statutory purpose of the exemption for cannabis and cannabis products sold by any dispensary as authorized under 7 V.S.A. chapter 37 in subdivision 7902(d)(2) of this title is to lower the cost of medical products in order to support the health and w…

§ 7910. Cannabis sales tax revenue; Universal Afterschool and Summer Special Fund Notwithstanding 16 V.S.A. § 4025, revenue from the sales and use tax imposed by chapter 233 of this title on retail sales of cannabis or cannabis products in Vermont shall be deposited into the Univ…

§ 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 Commissio…

§ 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 otherw…

§ 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 …

§ 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. Su…

§ 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…