The Vermont Statutes Online

Title 32 : Taxation and Finance

Chapter 233 : Sales and Use Tax

Subchapter 002 : EXEMPTIONS

• § 9742. Transactions not covered

  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  (1) [Repealed.]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. (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.)