Vermont § 5830a - Interest tax
Full text of Vermont Vermont Statutes Online § 5830a — Interest tax, with citation guidance and answers to common questions.
§ 5830a. Interest tax
- (a) When another state imposes a tax upon interest earned by its residents on deposits
in a lending institution located in this State, but exempts from such taxation deposits
by its residents in lending institutions located within that state, then there is
hereby levied a tax in the amount of five percent upon interest earned by residents
of this State on deposits in lending institutions located in such other state. As
used in this section, “lending institution” includes any bank, savings bank, trust
company, or building and loan association or other similar institution. (b) For each taxpayer, $600.00 of income otherwise taxable under this section shall be
exempt in each tax year. A husband and wife filing a joint return constitute a single
taxpayer. (Added 1977, No. 67.)
Frequently Asked Questions About Vermont § 5830a
What does Vermont Statutes Online § 5830a cover?
Section 5830a ("Interest tax") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 5830a?
A common citation format is "Vermont Statutes Online § 5830a" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 5830a apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.