Vermont Statutes Title 32 Sec. 9605
Terms Used In Vermont Statutes Title 32 Sec. 9605
- Commissioner: means the Commissioner of Taxes or any officer or employee of the Department authorized by the Commissioner, directly or indirectly by one or more redelegations of authority, to perform the functions mentioned or described in this chapter. See
- Controlling interest: means :
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Deed: includes any deed, instrument, memorandum of deed, memorandum of lease, or other writing evidencing a transfer of title to property. See
- Person: means every natural person, association, trust, corporation, partnership, limited liability company, or other legal entity. See
- Property: means real property. See
- Title to property: includes :
- Transfer: includes a grant, assignment, conveyance, will, trust, decree of court, transfer or acquisition of a direct or indirect controlling interest in any person with title to property, or any other means of transferring title to property or vesting title to property in any person. See
§ 9605. Payment of tax
(a) The tax imposed by this chapter shall be paid to the Commissioner within 30 days after transfer of title to property subject to the tax or, in the case of a transfer or acquisition of a controlling interest in a person with title to property for which a deed is not given, within 30 days after transfer or acquisition.
(b) If an agreement, instrument, memorandum, or other writing evidencing a transfer of title to property is taxed as a deed at the time of its recording, the later recording of the deed to the property shall not be subject to the transfer tax. (Added 1967, No. 146, § 1, eff. Jan. 1, 1968; amended 1989, No. 222 (Adj. Sess.), § 22; 2009, No. 160 (Adj. Sess.), § 16; 2019, No. 175 (Adj. Sess.), § 7, eff. Oct. 8, 2020.)