The Vermont Statutes Online
The Statutes below include the actions of the 2024 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.
Title 32 : Taxation and Finance
Chapter 151 : Income Taxes
Subchapter 003 : TAXATION OF CORPORATIONS
(Cite as: 32 V.S.A. § 5834)-
§ 5834. Computation of gains and losses
For the purpose of ascertaining gain or loss from the sale or other disposition of property, real, personal, or mixed, acquired before January 1, 1931, the taxpayer may, in lieu of the adjusted basis prescribed by the applicable U.S. Internal Revenue Code, use the fair market value of such property as of January 1, 1931, adjusted for the period subsequent thereto. In all other respects, the gain or loss on the sale or other disposition of property shall be ascertained as prescribed by such Code. (Added 1966, No. 61 (Sp. Sess.), § 1, eff. Jan. 1, 1966.)
