Vermont § 7125 - Premium tax
Full text of Vermont Vermont Statutes Online § 7125 — Premium tax, with citation guidance and answers to common questions.
§ 7125. Premium tax
- (a) A travel insurer shall pay premium tax, as provided in 32 V.S.A. § 8551, on travel insurance premiums paid by any of the following: (1) a primary policyholder who is a resident of this State; (2) a primary certificate holder who is a resident of this State who elects coverage under
a group travel insurance policy; or (3) a blanket travel insurance policyholder that is a resident in or has its principal
place of business or the principal place of business of an affiliate or subsidiary
that has purchased blanket travel insurance in this State for eligible blanket travel
insurance group members, subject to any apportionment rules that apply to the insurer
across multiple taxing jurisdictions or that permit the insurer to allocate premium
on an apportioned basis in a reasonable and equitable manner in those jurisdictions. (b) A travel insurer shall: (1) document the state of residence or principal place of business of the policyholder
or certificate holder, as required in subsection (a) of this section; and (2) report as premium only the amount allocable to travel insurance and not any amounts
received for travel assistance services or cancellation fee waivers. (Added 2021, No. 139 (Adj. Sess.), § 10, eff. August 25, 2022.)
Frequently Asked Questions About Vermont § 7125
What does Vermont Statutes Online § 7125 cover?
Section 7125 ("Premium 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 § 7125?
A common citation format is "Vermont Statutes Online § 7125" (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 § 7125 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.