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
006
:
ENFORCEMENT
(Cite as: 32 V.S.A. § 3260)
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§ 3260. Bulk sales
(a) Whenever a person (transferor) required to collect or withhold a trust tax pursuant
to chapter 151, 207, 225, or 233 of this title shall make any sale, transfer, long-term
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 or assignee (transferee) shall, at least 10 days before taking possession
of the subject of the transfer or before payment therefore if earlier, notify the
Commissioner in writing of the proposed sale and of the price, terms, and conditions
thereof whether or not the transferor has represented to or informed the transferee
that the transferor owes any trust tax pursuant to chapter 151, 207, 225, or 233 and
whether or not the transferee has knowledge that such taxes are owed, and whether
any taxes 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 exists, any sums of money, property, or choses in action,
or other consideration, which 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
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
for the payment to the State of any taxes theretofore or thereafter determined to
be due to the State from the transferor and the liability may be assessed and enforced
in the same manner as the liability for tax under chapter 151, 207, 225, or 233. (Added 1991, No. 186 (Adj. Sess.), § 9; amended 2003, No. 70 (Adj. Sess.), § 34, eff. March 1, 2004; 2025, No. 56, § 13, eff. July 1, 2025.)