The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
001
:
GENERAL GASOLINE TAX
(Cite as: 23 V.S.A. § 3118)
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§ 3118. Bulk sales; transferee liability
(a) Whenever a licensee (transferor) required to collect and remit the tax required by
this subchapter shall make any sale, transfer, lease, or assignment (transfer) in
bulk of any part or the whole of the assets of a business, otherwise than in the ordinary
course of the business, the purchaser, transferee, lessee, or assignee (transferee)
shall, at least 10 days before taking possession of the subject of the transfer or
before payment therefor if earlier, notify the Commissioner in writing by mail of
the proposed transfer and of the price, and date thereof; and whether or not the transferor
has represented to, or has informed the transferee that the transferor owes any tax,
interest, or penalties required by this subchapter and whether or not the transferee
has knowledge that such taxes, interest, or penalties are owed, and whether any taxes,
interest, or penalties are in fact owed.
(b) Whenever the transferee shall fail to give notice to the Commissioner as required
by subsection (a) of this section, or whenever the Commissioner shall inform the transferee
that a possible claim for tax, interest, or penalty exists, any sums of money, property,
or choses in action, or other consideration, that the transferee is required to transfer
over to or for the transferor shall be subject to a first priority right and lien
for any taxes, interest, or penalty theretofore or thereafter determined to be due
from the transferor to the State, and the transferee is forbidden to transfer the
consideration to or for the transferor to the extent of the amount of the State’s
claim.
(c) For failure to comply with this section, the transferee shall be personally liable
to the State for the amount of the State’s claim theretofore or thereafter determined
to be due to the State from the transferor and the liability may be assessed and enforced
against the transferee in the same manner as provided for by this chapter against
the transferor. (Added 1999, No. 154 (Adj. Sess.), § 43; amended 2019, No. 149 (Adj. Sess.), § 18, eff. July 13, 2020.)