Vermont Statutes Annotated — Title 32 (Taxation and Finance)

32 V.S.A. § 9742

Transactions not covered

Official textlegislature.vermont.gov11 subsections

This chapter shall not cover the following transactions:

# (1)

[Repealed.]

# (2)

the transfer of tangible personal property to a corporation solely in consideration for the issuance of its stock, pursuant to a merger or consolidation effected under the laws of Vermont or any other jurisdiction;

# (3)

the distribution of property by a corporation to its stockholders as a liquidating dividend;

# (4)

the distribution of property by a partnership to its partners in whole or partial liquidation;

# (5)

the transfer of property to a corporation upon its organization in consideration for the issuance of its stock;

# (6)

the contribution of property to a partnership in consideration for a partnership interest therein;

# (7)

the sale of tangible personal property where the purpose of the vendee is to hold the thing transferred as security for the performance of an obligation of the vendor;

# (8)

the sawing of lumber owned by the person requesting the sawing or his agent is not a “fabrication” within the meaning of subdivision 9771(3) of this title;

# (9)

the use of waste wood for fuel by a manufacturer in its business, where the waste wood resulted from the manufacturing operations of the manufacturer, and where such wood was purchased by the manufacturer under a claim of the manufacturing exemption provided by subdivision 9741(14) of this title or was grown by such manufacturer; and the giving away without charge of such waste wood by such manufacturer; and

# (10)

the sale of telecommunications service to an affiliate of the telecommunications provider. (

Last amended: Added 1969, No. 144, § 1, eff. June 1, 1969; amended 1971, No. 73, § 50, eff. April 16, 1971; 1977, No. 86, § 7; 1983, No. 111 (Adj. Sess.), eff. Feb. 24, 1984; 1997, No. 60, § 80, eff. Sept. 1, 1997.)

Source: view the official text

In this chapter (40 sections)

Full table of contents →