Vermont Statutes
§ 10003 — Rate of tax
Vermont·Title 32 Title 32: Taxation and Finance·Ch. 236 Chapter 236: Tax on Gains from the Sale or Exchange of Land
The tax imposed by section 10001 of this title shall be based upon the years held at the following rates on the gain, as gain is determined under section 10005 of this title:
* Gain, as percent of basis, shall be rounded to the next highest whole percentage. A single flat rate of tax shall apply to all of the gain and shall be determined by the percentage that the entire gain is of the basis (tax cost).
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Legislative History
(Added 1973, No. 81, § 8, eff. May 1, 1973; amended 1987, No. 64, § 8, eff. June 1, 1987.)
Nearby Sections
12
§ 10001
Tax imposed§ 10002
Land and residences§ 10002a
Principal residence§ 10003
Rate of tax§ 10004
Sale or exchange§ 10006
Liability for tax§ 10008
Installment sales§ 10009
Administration of tax§ 10010
Criminal penalties§ 10011
Exception