Vermont § 7448 - Extension of time for payment

§ 7448. Extension of time for payment

• (a) If the Commissioner finds that the payment on the due date of any part of the amount
  determined by the executor as the tax imposed by this subchapter would result in undue
  hardship to the estate, he or she may extend the time for payment for a reasonable
  period not in excess of five years from the date prescribed by section 7447 of this title. (b) For good cause shown, the Commissioner may extend the time for the payment of any
  tax liability, but the taxpayer shall pay, at the time the tax liability is paid,
  without assessment or demand, interest computed at the rate per annum established
  from time to time by the Commissioner pursuant to section 3108 of this title on the unpaid amount of that tax liability from the time when the liability was originally
  due to the time of payment. However, no interest shall be required in the case of
  an extension granted in case of hardship under subsection (a) of this section. (Added 1969, No. 269 (Adj. Sess.), § 1, eff. date, see note under § 7401 of this title; amended 1979, No. 105 (Adj. Sess.), § 16; 1981, No. 191 (Adj. Sess.), § 7.)