Terms Used In Vermont Statutes > Title 32 > Chapter 151 > Subchapter 5 - Estimations of Nonwithheld Income Tax

• 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
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Individual: means a natural person. See
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• 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.
• Person: shall include an individual, firm, partnership, association, joint stock company, corporation, trust, estate, or other entity. See
• Required annual payment: means the lesser of:

• 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 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