Vermont Statutes > Title 24 > Chapter 53 – Indebtedness

		Sections
Subchapter 1	Indebtedness Generally	1751 – 1789
Subchapter 2	Indebtedness for Public Utility Purposes	1821 – 1828
Subchapter 4	Form of Bonds, Notes, and Certificates	1881 – 1887
Subchapter 5	Statewide Tax Increment Financing	1891 – 1901
Subchapter 6	Municipal Tax Increment Financing	1903 – 1904

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Terms Used In Vermont Statutes > Title 24 > Chapter 53 - Indebtedness

Adult: means an individual who:
Advanced wood boiler: means a boiler or furnace:
Advertising agency: means a business 80 percent or more of whose gross receipts in the previous taxable year were, or in the first taxable year are reasonably projected to be, from charges for advertising services. See
Advertising materials: means tangible personal property that promotes a product, service, idea, concept, issue, or the image of a person, but not copies or reproductions of such property, or property on which printing or imprinting service has been performed. See
Advertising services: means services rendered to promote a product, service, idea, concept, issue, or the image of a person, including services rendered to design and produce advertising materials prior to the acceptance of the advertising materials for reproduction or publication, including research; design; layout; preliminary and final art preparation; creative consultation, coordination, direction, and supervision; script and copywriting; editing; and account management services. See
Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
Affiliated group: means a group of two or more corporations in which more than 50 percent of the voting stock of each member corporation is directly or indirectly owned by a common owner or owners, either corporate or noncorporate, or by one or more of the member corporations, but shall exclude foreign corporations and corporations taxable under 8 V. See
Affiliated person: means a person who, with respect to another person:
Aid: means financial assistance. See
Alcoholic beverages: means beverages that are suitable for human consumption and contain one-half of one percent or more of alcohol by volume. See
Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
Ancillary services: means services that are associated with or incidental to the provision of telecommunications services, including detailed telecommunications billing, directory assistance, vertical service, and voice mail services. See
Annual meeting: when applied to towns shall mean the annual town meeting in March or an adjournment thereof. See
Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
Apportioned ratio: means the revenue from assets under management or other investment business for non-Vermont residents who are unrelated persons, divided by the total revenue from assets under management or other investment business for unrelated persons during the tax year. See
Appraisal: A determination of property value.
Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
Approved postsecondary education institution: means a postsecondary education institution as defined in section 2822 of this title. See
Arrest: Taking physical custody of a person by lawful authority.
Assessment: means the information-gathering process, carried out by the Department's established protocol, that identifies an individual's skills, aptitudes, interests, life and work experience, and barriers, and the determination of how these factors relate to the individual's current or potential participation in the labor force and his or her family responsibilities. See
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
Beneficiary: means any individual designated by a participation agreement to benefit from payments for qualified postsecondary education costs. See
Benefits: means aid or commodities furnished under chapter 17 of this title. See
Bequest: Property gifted by will.
between: as used in this title in respect to a specified age of a student, shall mean the period of time commencing on the birthday of the child when he or she becomes the age first specified and ending on the day next preceding the birthday of the child when he or she becomes the age last specified. See
Bond: means any bond or note issued by the municipal corporation and payable out of the net revenues from the operation of a public utility project. See
Booking agent: means a person who facilitates the rental of an occupancy and collects rent for an occupancy and who has the right, access, ability, or authority, through an Internet transaction or any other means, to offer, reserve, book, arrange for, remarket, distribute, broker, resell, or facilitate an occupancy that is subject to the tax under this chapter. See
Caretaker: means an individual 18 years of age or older who is fulfilling a parental role in caring for a dependent child by providing physical care, guidance, and decision making related to the child's health, school, medical care, and discipline. See
Case management: means the services provided by or through the Department to participating families, including assessment, information, referrals, and assistance in the preparation and implementation of a family development plan under section 1007 of this title. See
Casual sale: means an isolated or occasional sale of an item of tangible personal property by a person who is not regularly engaged in the business of making sales of that general type of property at retail where the property was obtained by the person making the sale, through purchase or otherwise, for his or her own use. See
Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
Cigar: means any roll of tobacco wrapped in leaf tobacco or in any substance containing tobacco, other than any roll of tobacco that is a cigarette within the meaning of subdivision (1) of this section or is a little cigar within the meaning of subdivision (6) of this section. See
Cigarette: means :
Claimant agency: means any unit of State government, including agencies, departments, boards, commissions, authorities, or public corporations, including the Vermont Student Assistance Corporation and a collection agency under contract with the Court Administrator pursuant to 4 V. See
Clothing: means all human wearing apparel suitable for general use. See
Clothing accessories or equipment: shall include :
Code: means the Internal Revenue Code of 1986, as amended and as applicable to the taxable period; references to sections of the Code shall be deemed to refer to corresponding provisions of prior and subsequent federal tax laws. See
Coin-operated telephone service: means a telecommunications service paid for by inserting money into a telephone accepting direct deposits of money to operate. See
Commissioner: means the Commissioner of Taxes appointed under section 3101 of this title 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
Commissioner: means the Commissioner of Taxes appointed under 3 V. See
Commissioner: shall mean the Commissioner of Taxes. See
Commissioner: means the Commissioner of Taxes appointed under 3 V. See
Commissioner: means the State Commissioner of Taxes or any officer or employee of the Department duly authorized by the Commissioner directly or indirectly by one or more redelegations of authority to perform the functions herein mentioned or described. See
Commissioner: means the Commissioner for Children and Families. See
Commissioner: means the Commissioner for Children and Families or his or her designee. See
Committed: means pledged and appropriated for the purpose of the current and future payment of tax increment financing incurred in accordance with section 1894 of this subchapter and related costs as defined in this section. See
Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
Compost: means a stable humus-like material produced by the controlled biological decomposition of organic matter through active management but does not mean sewage, septage, or materials derived from sewage or septage. See
consumer price index: means the last Consumer Price Index for All Urban Consumers published by the U. See
Contract: A legal written agreement that becomes binding when signed.
Conviction: A judgement of guilt against a criminal defendant.
Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Corporation: means any business entity subject to income taxation as a corporation, and any entity qualified as a small business corporation, under the laws of the United States, with the exception of the following entities that are exempt from taxation under this chapter:
Corporation: means Vermont Student Assistance Corporation. See
Cost of operation and maintenance: shall mean the expenses for operation, maintenance, repairs, and ordinary replacements properly and directly attributable to the operation or ordinary maintenance of the public utility project. See
Court: means a Superior Court or the Judicial Bureau. See
Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
Dealer: means any wholesale dealer and retail dealer as herein defined. See
Debt: means any obligation to pay a sum of money to a claimant agency, the amount of which is fixed by agreement between the debtor and the claimant agency or by operation of law. See
Debtor: means any individual owing a debt to a claimant agency or owing any support debt that may be collected by the Department for Children and Families. See
Decedent: A deceased person.
Deed: The legal instrument used to transfer title in real property from one person to another.
Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
Delivery charges: means charges by the seller of personal property or services for preparations and delivery to a location designated by the purchaser of personal property, or services, including transportation, shipping, postage, handling, crating, and packing. See
Department: means the Vermont Department of Taxes. See
Department: means the Department for Children and Families. See
Department: means the Department for Children and Families. See
Dependent: A person dependent for support upon another.
Dependent child: means a child who is a resident of this State and:
Devise: To gift property by will.
Dietary supplement: means any product, other than tobacco, intended to supplement the diet that:
Digital audio works: means works that result from the fixation of a series of musical, spoken, or other sounds, including ringtones. See
Digital audiovisual works: means a series of related images that, when shown in succession, impart an impression of motion, together with accompanying sounds, if any. See
Digital books: means works that are generally recognized in the ordinary and usual sense as "books. See
Digital business entity: means a business entity that, during the entire taxable year:
Direct mail: includes tangible personal property supplied directly or indirectly by the purchaser to the direct mail seller for inclusion in the package containing the printed material. See
Directory assistance: means an ancillary service of providing telephone number information or address information, or both. See
Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
Docket: A log containing brief entries of court proceedings.
Domestic: when applied to a corporation, company, association, or copartnership shall mean organized under the laws of this State; "foreign" when so applied, shall mean organized under the laws of another state, government, or country. See
Donee: The recipient of a gift.
Donor: The person who makes a gift.
Drug: means a compound, substance, or preparation and any component of a compound, substance, or preparation, but not including food and food ingredients, dietary supplements, alcoholic beverages, or grooming and hygiene products, that is:
Durable medical equipment: means equipment, including repair and replacement parts for such equipment, but does not include "mobility-enhancing equipment" which:
Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
Eligible family: means a family that is determined to be financially eligible for the programs authorized by this chapter, in accordance with rules adopted by the Commissioner. See
End user: means any person other than a person who received by contract a product transferred electronically for further commercial broadcast, rebroadcast, transmission, retransmission, licensing, relicensing, distribution, redistribution, or exhibition of the product, in whole or in part, to another person or persons. See
equipment: means incidental items worn on the person or in conjunction with "clothing. See
Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
Escrow: Money given to a third party to be held for payment until certain conditions are met.
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Executor: A male person named in a will to carry out the decedent
Executor: means the executor or administrator of the estate of the decedent or, if there is no executor or administrator appointed, qualified, and acting within Vermont, then any person in actual or constructive possession of any property of the decedent. See
Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
Family: means :
federal agency: means a department or agency of the United States of America. See
Federal estate tax liability: means for any decedent's estate the federal estate tax payable by the estate under the laws of the United States after the allowance of all credits against the estate tax provided by the laws of the United States. See
Federal gross estate: means the gross estate as determined under the laws of the United States. See
Federal taxable estate: means the taxable estate as determined under the laws of the United States. See
Federal taxable gifts: means taxable gifts as determined under the laws of the United States. See
Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
Fiduciary: A trustee, executor, or administrator.
Financing: means debt incurred, including principal, interest, and any fees or charges directly related to that debt, or other instruments or borrowing used by a municipality to pay for improvements in a tax increment financing district, only if authorized by the legal voters of the municipality in accordance with section 1894 of this subchapter. See
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Fiscal year: means an accounting period of 12 months ending on the last day of any month except December, or an accounting period of less than 12 months, which period is employed as the fiscal year of the taxpayer for U. See
following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
Food and food ingredients: means substances, whether in liquid, concentrated, solid, frozen, dried, or dehydrated form, that are sold for ingestion or chewing by humans and are consumed for their taste or nutritional value. See
Food or beverage: means any substance used by humans for food, drink, confectionery, or condiment, except alcoholic beverages. See
Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
Fraud: Intentional deception resulting in injury to another.
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Grantor: The person who establishes a trust and places property into it.
Grooming and hygiene products: means soaps and cleaning solutions, shampoo, toothpaste, mouthwash, antiperspirants, and suntan lotions and screens. See
Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
Guardian: means a legal guardian appointed by a Probate Division of the Superior Court or by a court in a divorce or other proceeding or action. See
Heated food or beverage: means any food or beverage prepared for sale in a heated condition by, for example, cooking, microwaving, or warming by infrared lights, steam tables, or other heating devices. See
Hotel: means an establishment that holds itself out to the public by offering sleeping accommodations for a consideration, whether or not the major portion of its operating receipts is derived therefrom and whether or not the sleeping accommodations are offered to the public by the owner or proprietor or lessee, sublessee, mortgagee, licensee, or any other person or the agent of any of the foregoing. See
Improvement: shall include , apart from its ordinary signification:
Improvements: means the installation, new construction, or reconstruction of infrastructure that will serve a public purpose and fulfill the purpose of tax increment financing districts as stated in section 1893 of this subchapter, including utilities, transportation, public facilities and amenities, land and property acquisition and demolition, and site preparation. See
Improvements: means the installation, new construction, or reconstruction of infrastructure to benefit a municipal tax increment financing district, including utilities, transportation, public facilities and amenities, land and property acquisition and demolition, and site preparation. See
in the State: means within the exterior limits of the State of Vermont and includes all territory within these limits owned by or ceded to the United States of America. See
Independent living facility: means a congregate living environment, however named, for profit or otherwise, that meets the definitions of housing complexes for older persons as enumerated in 9 V. See
Individual: means a natural person. See
inhabitants: shall mean the population of the political division referred to, as ascertained by the national census last completed before the time when such population is a material fact. See
Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
Internal Revenue Code: means the federal Internal Revenue Code of 1986, as amended, together with the regulations promulgated pursuant to that Code. See
Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
Investment company: means any person registered under the Federal Investment Company Act of 1940 (the Act) or a company that would be required to register as an investment company under the Act except that such person is exempt to such registration pursuant to Section 3(c)(1) of the Act. See
Investment management: means the provision of investment management, research, distribution, or administration services to or on behalf of an investment company, including trustees, and sponsors or participants of employee benefit plans that have accounts in an investment company, or to or on behalf of an investment advisor. See
Investment period: means the period commencing January 1, 2010 and ending December 31, 2014. See
Investment Plan: means one or more plans created pursuant to this subchapter. See
Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
Judgment debtor: means any person who has not paid in full a court judgment for payment of a fine, penalty, surcharge, or fee, but not damages, due and payable to the State or a political subdivision thereof. See
Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
Justice: when applied to a person, other than a Justice of the Supreme Court, shall mean a justice of the peace for the county for which he or she is elected or appointed. See
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
Lease or rental: means any transfer of possession or control of tangible personal property for a fixed or indeterminate term for consideration. See
Legatee: A beneficiary of a decedent
Legislative body: means the mayor and alderboard, the city council, the selectboard, and the president and trustees of an incorporated village, as appropriate. See
Legislative body: means the mayor and alderboard, the city council, the selectboard, or the president and trustees of an incorporated village, as appropriate. See
Legislative branch: shall mean the mayor and board of aldermen of a city, the selectboard of a town, the trustees of a village, the board of school directors of a school district, the trustees or prudential committee of a graded school or fire district, and the Board of Governors of the unified towns and gores of Essex County, and, with respect to other municipal corporations, the governing body designated by statute. See
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Licensed wholesale dealer: shall mean a wholesale dealer licensed under the provisions of this chapter. See
Lien: A claim against real or personal property in satisfaction of a debt.
Little cigars: means any rolls of tobacco wrapped in leaf tobacco or any substance containing tobacco, other than any roll of tobacco that is a cigarette within the meaning of subdivision (1) of this section, and as to which 1,000 units weigh not more than four and one-half pounds. See
Manipulated animal manure: means manure that is ground, pelletized, mechanically dried, or consists of separated solids. See
Manufacturer: means a person who manufactures and sells cigarettes, little cigars, roll-your-own tobacco, snuff, new smokeless tobacco, and other tobacco products. See
Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
Marketplace: means the physical or electronic processes, systems, places, and infrastructure, including a website, through which a marketplace facilitator engages in any of the activities described in subdivision (56) of this section. See
Marketplace facilitator: means a person who contracts with marketplace sellers to facilitate for consideration, regardless of whether deducted as fees from the transaction, the sale of the marketplace seller's products through a physical or electronic marketplace operated by the person and engages:
Marketplace seller: means a person who has an agreement with a marketplace facilitator and makes retail sales of tangible personal property, taxable services, or digital goods through a marketplace owned, operated, or controlled by a marketplace facilitator, even if the person would not be required to collect and remit the sales tax had the sale not been made through the facilitated marketplace. See
Mobile telecommunications service: means mobile telecommunications service as defined in 4 U. See
Month: shall mean a calendar month and "year" shall mean a calendar year and be equivalent to the expression "year of our Lord. See
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Mortgagee: The person to whom property is mortgaged and who has loaned the money.
Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
Municipal corporation: shall include a city, town, village, town school district, graded school district, or other incorporated, union, or unified school district or any entity providing educational services which is eligible to receive State aid under 16 Vt. See
Municipality: means a city, town, or incorporated village. See
Municipality: means a city, town, or incorporated village. See
Municipality: shall include a city, town, town school district, incorporated school or fire district or incorporated village, and all other governmental incorporated units. See
Net revenues: shall mean revenues less cost of operation and maintenance. See
New smokeless tobacco: means any tobacco product manufactured from, derived from, or containing tobacco that is not intended to be smoked, has a moisture content of less than 45 percent, or is offered in individual single-dose tablets or other discrete single-use units. See
Noncollecting vendor: means a vendor that sells tangible personal property or services to purchasers who are not exempt from the sales tax under this chapter, but that does not collect the Vermont sales tax. See
Nondebtor spouse: means any individual who is not a debtor, but has filed a joint income tax return or claim under chapter 154 of this title with a debtor. See
Oath: A promise to tell the truth.
Oath: shall include affirmation where by law an affirmation may be substituted. See
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Occupancy: means the use or possession, or the right to the use or possession, of any room or rooms in a "hotel" for any purpose, or the right to the use or possession of the furnishings or to the services and accommodations accompanying the use and possession of a room or rooms. See
Occupant: means a person who, for a consideration, uses, possesses, or has a right to use or possess any room or rooms in a hotel under any lease, concession, permit, right of access, license, or agreement. See
Operator: means any person, or his or her agent, operating a hotel, whether as owner or proprietor or lessee, sublessee, mortgagee, licensee, or otherwise; and any person, or his or her agent, charging for a taxable meal or alcoholic beverage; and any person, or his or her agent, engaged in both of the foregoing activities. See
Original taxable value: means the total valuation as determined in accordance with 32 Vt. See
Original taxable value: means the total valuation as determined in accordance with 32 Vt. See
Other tobacco products: means any product manufactured from, derived from, or containing tobacco that is intended for human consumption by smoking, chewing, or in any other manner, including products sold as a tobacco substitute, as defined in 7 V. See
Oversight: Committee review of the activities of a Federal agency or program.
Paging service: means a telecommunications service that provides transmission of coded radio signals for the purpose of activating specific pagers; such transmissions may include messages or sounds, or both. See
Parent: means a biological parent, stepparent, adoptive parent, or pregnant individual. See
Part-year resident individual or trust: means , for any taxable year, an individual or trust qualifying for residency in this State during only part of that taxable year. See
Participant: means a person who has entered into a participation agreement pursuant to this subchapter intended for the payment of qualified postsecondary education costs on behalf of a beneficiary. See
participating adult: means an adult member of a participating family. See
Participating family: means an eligible family that participates in the Reach First program. See
Participation agreement: means an agreement between a participant and the Corporation, pursuant to and conforming with the requirements of this subchapter. See
Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Perlite: means a lightweight granular material made of volcanic material expanded by heat treatment for use in growing media. See
Permanent resident: means any occupant who has occupied any room or rooms in a "hotel" for at least 30 consecutive days. See
Person: shall include an individual, firm, partnership, association, joint stock company, corporation, trust, estate, or other entity. See
Person: shall mean any individual, firm, fiduciary, partnership, corporation, trust, or association, however formed. See
Person: means any individual, combination of individuals, firm, partnership, society, association, joint stock company, corporation, or any of the foregoing acting in a fiduciary or representative capacity, whether appointed by court or otherwise. See
Person: means an individual, partnership, society, association, joint stock company, corporation, public corporation or public authority, estate, receiver, trustee, assignee, referee, and any other person acting in a fiduciary or representative capacity, whether appointed by a court or otherwise, and any combination of the foregoing. See
Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
person or corporation owning or operating a telephone line or business: as used in this chapter , shall not include a person or corporation that is engaged in the resale of telephone transmission capacity but does not own or operate any telephone lines or transmission facilities within the State, but such person or corporation engaging in the resale of telephone transmission capacity shall be subject to income taxation under chapter 151 of this title. See
Personal estate: shall include all property other than real estate. See
Personal property: All property that is not real property.
Place of business: means any place where tobacco products are sold or where tobacco products are manufactured, stored, or kept for the purpose of sale or consumption, including any vessel, vehicle, airplane, train, or vending machine. See
Place of entertainment: means any place where any facilities for entertainment, recreation, amusement, or sports are provided. See
Plaintiff: The person who files the complaint in a civil lawsuit.
Planting mix: means material that is:
Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
Prepackaged: means packaged off the premises of the operator, whether packaged in single servings or larger quantities, and sold in the original unopened container; or packaged on the premises and sold in the unopened package provided the operator sells for resale at least 80 percent of all items packaged in the same type and size of packaging. See
Private communications service: means a telecommunications service that entitles the customer to exclusive or priority use of a communications channel or group of channels between or among termination points, regardless of the manner in which such channel or channels are connected, and includes switching capacity, extension lines, stations, and any other associated services that are provided in connection with the use of such channel or channels. See
Pro rata share: means the portion of any item attributable to an S corporation shareholder for a taxable period determined in the manner provided in, and subject to any election made under, subsection 1377(a) or 1362(e), as the case may be, of the Code. See
Probate: Proving a will
Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
Project: shall mean an undertaking for the acquisition, construction, reconstruction, improvement, financing, enlargement, extension, or betterment of any of the following public utility systems:
Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
Protective equipment: means items for human wear and designed as protection of the wearer against injury or disease or as protection against damage or injury of other persons or property but not suitable for general use. See
Public assistance: means aid provided by the Department under Title IV, XVI, or XIX of the Social Security Act. See
Purchase price: means the measure subject to use tax and has the same meaning as sales price. See
Purchaser: means a person who purchases property or who receives services taxable under this chapter. See
Qualified applicant: means an owner or lessee of a qualified building involving a qualified project but does not include a State or federal agency or a political subdivision of either or an instrumentality of the United States. See
Qualified building: means a building built at least 30 years before the date of application, located within a designated downtown, village center, or neighborhood development area, which, upon completion of the project supported by the tax credit, will be an income-producing building not used solely as a single-family residence. See
Qualified capital expenditures: means expenditures properly chargeable to a capital account by a qualified taxpayer during the investment period, totaling at least $20 million for machinery and equipment to be located and used in Vermont for creating, producing, or processing tangible personal property for sale. See
Qualified code improvement project: means a project:
Qualified expenditures: means construction-related expenses of the taxpayer directly related to the project for which the tax credit is sought but excluding any expenses related to a private residence. See
Qualified Flood Mitigation Project: means any combination of structural and nonstructural changes to a building located within the flood hazard area as mapped by the Federal Emergency Management Agency that reduces or eliminates flood damage to the building or its contents. See
Qualified historic rehabilitation project: means an historic rehabilitation project that has received federal certification for the rehabilitation project. See
Qualified payroll expense: means compensation for performance by the qualified person's employees related to investment advisor, investment management, or investment company services in Vermont. See
Qualified person: means any corporation, partnership, limited liability company, sole proprietor, or trust primarily engaged in business as an investment advisor and registered as such with the Federal Securities Exchange Commissions or primarily engaged in investment management, or an investment company. See
Qualified postsecondary education costs: means the costs of tuition and fees for attendance at an approved postsecondary education institution, and other qualified higher education expenses as provided under 26 U. See
Qualified project: means a qualified code improvement, qualified façade improvement, or qualified historic rehabilitation project as defined by this subchapter. See
Qualified resident taxpayer: means an individual qualifying for residency as defined under subdivision (11) of this section and whose adjusted gross income is equal to or less than:
Qualified taxpayer: means a taxpayer that:
Reach Ahead: means the program established under chapter 12 of this title. See
Reach First payment: means a one-time payment of cash as determined in section 1004 of this title. See
Reach First services: means the service component of the Reach First program consisting of case management services, support services, and referrals provided to eligible families to assist them in becoming self-sufficient. See
Reach Up: means the program established under chapter 11 of this title. See
real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Refund: means any individual's State income tax refund under chapter 151 of this title and any payment due a claimant under chapter 154 of this title. See
Regulation: means a rule or regulation. See
Related costs: means expenses incurred and paid by the municipality, exclusive of the actual cost of constructing and financing improvements, that are directly related to the creation and implementation of the tax increment financing district, including reimbursement of sums previously advanced by the municipality for those purposes. See
Related costs: means expenses incurred and paid by the municipality, exclusive of the actual cost of constructing and financing improvements, that are directly related to the creation and implementation of a municipal tax increment financing district, including reimbursement of sums previously advanced by the municipality for those purposes, direct municipal expenses such as departmental or personnel costs related to creating or administering the project, and audit costs allocable to the district. See
Relative: means a person related to a dependent child, as defined by the Department by rule. See
Rent: means the consideration received for occupancy valued in money, whether received in money or otherwise, including all receipts, cash, credits, and property or services of any kind or nature, and also any amount for which the occupant is liable for the occupancy without any deduction therefrom whatsoever, and any monies received in payment for time-share rights at the time of purchase; provided, however, that such money received shall not be considered rent and thus not taxable if a deeded interest is granted to the purchaser for the time-share rights. See
Required annual payment: means the lesser of:
Resident estate: means the estate of a decedent who, at the decendent's death, was domiciled in this State. See
Resources: means any income and property available from whatever source. See
Restaurant: means :
Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
Retail dealer: shall mean a person licensed pursuant to 7 V. See
Ringtones: means digitized sound files that are downloaded onto a device and that may be used to alert the customer with respect to a communication. See
road: shall include bridges thereon and their approaches. See
Roll-your-own tobacco: means any tobacco that, because of its appearance, type, packaging, or labeling, is suitable for use and likely to be offered to, or purchased by, consumers as tobacco for making cigarettes. See
S corporation: means a corporation for which a valid election under subsection 1362(a) of the Code is in effect. See
said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See
Salad bar: means any counter, stand, table, or other display of salads and other foods at which the customer may handle, cook, cut, mix, or dispense, in a nonpackaged state, the food displayed. See
Sales price: means the total amount of consideration, including cash, credit, property, and services, for which personal property or services are sold, leased, or rented, valued in money, whether received in money or otherwise, without deduction for the following:
School: means an incorporated nonstock educational institution, including an institution empowered to confer educational, literary, or academic degrees, that has a regular faculty, curriculum, and organized body of pupils or students in attendance throughout the usual school year; that keeps and furnishes to students and others records required and accepted for entrance to a school of secondary, collegiate, or graduate rank; no part of the earnings of which inure to the benefit of any individual. See
seal: shall include an impression of the official seal made upon paper alone or by means of a wafer or wax affixed thereto. See
Secretary: means the Secretary of Human Services or his or her designee. See
sell: means any transfer, exchange, or barter in any manner or by any means whatever, of any cigarettes or tobacco products. See
semiweekly: means twice per week. See
Service of process: The service of writs or summonses to the appropriate party.
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Snack bar: means a counter with no seating at which prepared food is offered only for self-service. See
Snuff: means any finely cut, ground, or powdered tobacco that is not intended to be smoked, has a moisture content of not less than 45 percent, and is not offered in individual single-dose tablets or other discrete single-use units. See
Social Security Act: means the federal Social Security Act and regulations promulgated under the Act, as amended at any time. See
Soft drink: means nonalcoholic beverages that contain natural or artificial sweeteners. See
sold at retail: means any sale, lease, or rental for any purpose other than for resale, sublease, or subrent, including sales to contractors, subcontractors, or repair persons of materials and supplies for use by them in erecting structures or otherwise improving, altering, or repairing real property. See
Specified digital products: means digital audiovisual works, digital audio works, digital books, or ringtones that are transferred electronically. See
Sport or recreational equipment: means items designed for human use and worn in conjunction with an athletic or recreational activity that are not suitable for general use. See
Stamp: shall mean any impression, stamp, label, or print manufactured, printed, or made as prescribed by the Commissioner. See
State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
State Board: means the Vermont Downtown Development Board established pursuant to 24 Vt. See
Statute: A law passed by a legislature.
Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
Student: means any person who:
Subpoena: A command to a witness to appear and give testimony.
Summons: Another word for subpoena used by the criminal justice system.
Support debt: means a support delinquency pursuant to an obligation determined under a court order or as a result of an administrative process established by this or another state. See
sworn: shall include affirmed. See
TANF: means the block grant provided to this State and established in accordance with Part A of Title IV of the federal Social Security Act, as amended, and the regulations promulgated under the Act by the U. See
Tangible personal property: includes electricity, water, gas, steam, and prewritten computer software. See
Tax: means , for any taxpayer and for any taxable year, the income tax liability of the taxpayer for that taxable year under section 5822 of this title, reduced by any allowable credits against such tax. See
tax liability: includes the liability for all amounts owing by a taxpayer to the State of Vermont under this chapter. See
Taxable corporation: means , for any taxable year, a corporation that, at any time during that taxable year:
Taxable income: means , in the case of an individual, federal adjusted gross income determined without regard to 26 U. See
Taxable meal: means :
Taxable period: means any taxable year or portion of a taxable year during which a corporation is an S corporation. See
Taxable year: means the calendar year, or the fiscal year ending during the calendar year, with respect to which a tax is imposed under this chapter and, in the case of a return filed with respect to a fractional part of a year, the period with respect to which the return is filed. See
Taxpayer: means a person obligated to file a return with or pay or remit any amount to this State under this chapter. See
Taxpayer: means the executor of an estate, the estate itself, the donor of a gift, or any person or entity or combination of these who is liable for the payment of any tax, interest, penalty, fee, or other amount under this chapter. See
telecommunications service: includes such transmission, conveyance, or routing in which computer processing applications are used to act on the form, code, or protocol of the content for purposes of transmission, conveyance, or routing without regard to whether such service is referred to as voice-over Internet protocol services or is classified by the Federal Communications Commission as enhanced or value added. See
Tenancy by the entirety: A type of joint tenancy between husband and wife that is recognized in some States. Neither party can sever the joint tenancy relationship; when a spouse dies, the survivor acquires full title to the property.
Testator: A male person who leaves a will at death.
Testify: Answer questions in court.
Testimony: Evidence presented orally by witnesses during trials or before grand juries.
TIF: means a tax increment financing district. See
Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See
Trade-in: means an allowance, including any core charges, made for like-kind property given to a vendor. See
Transferred electronically: means obtained by the purchaser by means other than tangible storage media. See
Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
Trustee: A person or institution holding and administering property in trust.
Unitary business: means one or more related business organizations engaged in business activity both within and outside the State among which there exists a unity of ownership, operation, and use or an interdependence in their functions. See
Unrelated persons: means any person other than the person claiming the credit under this section, or his or her spouse, parent, child, or sibling. See
Use: means the exercise of any right or power over tangible personal property by the purchaser thereof and includes the receiving, storage or any keeping or retention for any length of time, withdrawal from storage, any installation, any affixation to real or personal property, or any consumption of that property. See
Value-added non-voice data service: means a service that otherwise meets the definition of telecommunications service in which computer processing applications are used to act on the form, content, code, or protocol of the information or data primarily for a purpose other than transmission, conveyance, or routing. See
Vending machine: means a machine operated by coin, currency, credit card, slug, token, coupon, or similar device that dispenses food or beverages. See
Vendor: means :
Vermiculite: means a lightweight mica product expanded by heat treatment for use in growing media. See
Vermont income tax liability: means for an individual, the taxpayer's Vermont income tax liability as determined under this chapter multiplied by the percentage of the taxpayer's adjusted gross income from sources defined in subsection (a) of this section; and for a corporation, the taxpayer's Vermont tax liability as determined under this chapter multiplied by the percentage of the taxpayer's Vermont net income from sources defined in subsection (a) of this section. See
Vermont net income: includes the allocable share of the combined net income of the group. See
Vermont net operating loss: means any negative income after allocation and apportionment of Vermont net income pursuant to section 5833 of this chapter. See
Vermont taxable estate: means the federal taxable estate as provided under 26 U. See
Village: shall mean an incorporated village. See
Wholesale dealer: means a person who imports or causes to be imported into the State any cigarettes, little cigars, roll-your-own tobacco, snuff, new smokeless tobacco, or other tobacco product for sale or who sells or furnishes any of these products to other wholesale dealers or retail dealers for the purpose of resale, but not by small quantity or parcel to consumers thereof. See
Wholesale outlet: shall mean any premises where cigarettes, little cigars, roll-your-own tobacco, snuff, new smokeless tobacco, or other tobacco products are sold, transferred, displayed, or held for sale by a wholesale dealer. See
Wholesale price: means the price at which a licensed wholesale dealer sells or furnishes cigarettes, little cigars, roll-your-own tobacco, snuff, new smokeless tobacco, or other tobacco products to any retail dealer. See
Writ: A formal written command, issued from the court, requiring the performance of a specific act.