Vermont § 1322 - Reports; liability

§ 1322. Reports; liability

• (a) Every employer shall file with the Commissioner periodic reports to disclose its liability
  for contributions under this chapter on forms and at times prescribed by the Commissioner. (b)(1) Every employer subject to this chapter who sells in bulk 50 percent or more of its
  assets, including any stock of goods, wares, or merchandise of any kind, fixtures,
  machinery, equipment, buildings, or real estate, when the sale constitutes the sale
  of the employer’s business to another shall give the Commissioner 10 days’ notice
  of the sale before the completion of the transfer of the property. (2) The employer shall file all contribution reports with the Commissioner to the date
  of the proposed transfer of property and pay all contributions, interest, and penalties
  due and payable. The employer shall also file the detailed quarterly wage report required
  by section 1314a of this subchapter covering employee wages to date of proposed transfer. (3)(A) The Commissioner shall furnish to the employer within 10 days after the reports are
  filed a certificate showing that all reports have been filed and contributions, interest,
  and penalties have been paid to the date of the proposed transfer. If the certificate
  is not furnished by the Commissioner within 10 days, no liability may thereafter be
  imposed upon the purchaser. (B) The employer shall present the certificate to the purchaser of the property. (C) The failure of the purchaser to require the certificate makes the purchaser liable
  to the Commissioner for the unpaid contributions, interest, and penalties owed by
  the employer in an amount not to exceed the reasonable value of the assets purchased.
  The liability imposed upon the purchaser by this subsection shall be secondary to
  the liability of the employer. (c) Subsection (b) of this section shall not apply to sales made under any court order
  or to any sales made by assignees for the benefit of creditors, executors, administrators,
  receivers, or any public officer in the officer’s official capacity or by any officer
  of the court. (d) An employing unit that has been liable otherwise than by its election to pay contributions
  as an employer under this chapter for any calendar year shall file reports and pay
  contributions for the next succeeding calendar year as the Commissioner may prescribe. (Amended 1959, No. 329 (Adj. Sess.), § 22, eff. March 1, 1961; 1961, No. 210, § 15, eff. July 11, 1961; 1967, No. 226 (Adj. Sess.), § 1, eff. Jan. 17, 1968; 1985, No. 50, § 7; 2023, No. 85 (Adj. Sess.), § 181, eff. July 1, 2024.)