Vermont Statutes Title 32 Sec. 9772
Terms Used In Vermont Statutes Title 32 Sec. 9772
- 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
- Purchaser: means a person who purchases property or who receives services taxable under this chapter. 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:
- Vendor: means :
§ 9772. Amount of tax to be collected
(a) For the purpose of adding and collecting the tax imposed by this chapter, or an amount equal as nearly as possible or practicable to the average equivalent thereof, to be reimbursed to the vendor by the purchaser, the vendor shall multiply the total sales price of all the transactions taxable by the rate specified in section 9771 of this title carried to the third decimal place and rounded up to the nearest whole cent if the third decimal point is greater than four and rounded down to the nearest whole cent if the third decimal point is four or less. The tax may be computed on either the total invoice amount or on each taxable item.
(b) The Commissioner may adopt transition rules that comply with any applicable multistate agreement in the event of a rate change. (1969, No. 144, § 1, eff. June 1, 1969; amended 1971, No. 73, § 41, eff. April 16, 1971; 1981, No. 170 (Adj. Sess.), § 12; 1991, No. 32, § 10, eff. June 1, 1991; 1993, No. 1 (Sp. Sess.), § 2, eff. Sept. 1, 1993; 2003, No. 68, § 32, eff. June 18, 2003; 2003, No. 68, § 62, eff. date, see note below; 2003, No. 152 (Adj. Sess.), § 19, eff. date, see note below; 2009, No. 1 (Sp. Sess.), § H.42.)