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.
(Cite as: 30 V.S.A. § 26)
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§ 26. Penalty
When such annual report for any year is not rendered to the Department of Public Service
and the tax due thereon is not paid on or before April 15 next following, there shall
be added to the tax an additional amount equal to five percent thereof or $1.00,
whichever is greater, if such return is made and tax paid within 15 days after becoming
due, and 25 percent of the tax or $10.00, whichever is greater, if such return is
not made and tax paid within 15 days after becoming due. When a company, which has
failed to file such return or has filed an incorrect or insufficient return and has
been notified by the Department of its delinquency refuses or neglects within 20 days
after such notice to file a proper return, or files a fraudulent return, the Department
shall determine the tax due according to its best information and belief and shall
increase the amount of the tax so determined by 50 percent or $20.00, whichever is
greater. No assessment shall be made under this section unless made within two years
from the date on which a correct return should have been filed but the limitation
of two years to the assessment of such tax or additional tax shall not apply to the
assessment of additional taxes upon fraudulent returns. In its discretion, the Department
may waive the penalties mentioned in this section if it is satisfied that the default
was for any justifiable cause, and it may extend the time for filing returns or paying
such tax, not to exceed two months. (Amended 1959, No. 329 (Adj. Sess.), § 39(b), eff. March 1, 1961; 1979, No. 204 (Adj. Sess.), § 12, eff. Feb. 1, 1981.)