Vermont § 3028 - Bulk sales; transferee liability

§ 3028. Bulk sales; transferee liability

• (a) Whenever a licensee (transferor) required to collect and remit the tax required by
  this chapter shall make any sale, transfer, 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, lessee, or assignee (transferee)
  shall, at least 10 days before taking possession of the subject of the transfer or
  before payment therefor if earlier, notify the Commissioner in writing by mail of
  the proposed transfer and of the price and date thereof and whether or not the transferor
  has represented to, or has informed the transferee that the transferor owes any tax,
  interest, or penalties required by this chapter and whether or not the transferee
  has knowledge that such taxes, interest, or penalties are owed, and whether any taxes,
  interest, or penalties 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, interest, or penalty exists, any sums of money, property,
  or choses in action, or other consideration, that 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, interest, or penalty 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
  to the State for the amount of the State’s claim theretofore or thereafter determined
  to be due to the State from the transferor and the liability may be assessed and enforced
  against the transferee in the same manner as provided for by this chapter against
  the transferor. (Added 1999, No. 154 (Adj. Sess.), § 36; amended 2019, No. 149 (Adj. Sess.), § 17, eff. July 13, 2020.)