Vermont § 8902 - Definitions Unless otherwise expressly provided, as used in this chapter:

§ 8902. Definitions Unless otherwise expressly provided, as used in this chapter:

• (1) “Commissioner” means the Commissioner of Motor Vehicles. (2) “Resident” shall include all legal residents of this State and in addition thereto
  any person who accepts employment or engages in a trade, profession, or occupation
  in this State for a period of at least six months. Also, in addition thereto, any
  foreign partnership, firm, association, or corporation doing business in this State
  shall be deemed to be a resident as to all vehicles owned or leased and ordinarily
  used by it in connection with its place of business in this State. “Resident” shall
  not include any person, firm, or corporation not required to register motor vehicles
  by reason of any reciprocity provision with any other state. (3) “Purchase or purchasing, sale or selling” means any transfer of title or possession,
  exchange, or barter, conditional or otherwise, in any manner or by any means whatsoever,
  of a motor vehicle for a consideration, including leases and transactions whereby
  the possession of the property is transferred but the seller retains the title as
  security for the payment of the purchase price. (4) “Purchase price” means the gross consideration, exclusive of the tax hereby imposed,
  that is to be paid for the motor vehicle, expressed in terms of U.S. currency as of
  the time of the sale, and shall include the cash consideration, if any, plus the value
  of any services or property given or to be given, or both, in exchange for the motor
  vehicle. In the case of a lease, the purchase price shall mean an amount computed
  by subtracting the lease end value of the motor vehicle from the original acquisition
  cost of the motor vehicle. For purposes of this subdivision, the original acquisition
  cost of a motor vehicle is the gross consideration that the lessee would pay for the
  motor vehicle if the lessee purchased the motor vehicle on the date of execution of
  the lease contract, as stated in the lease contract or worksheet, and the lease end
  value is the value of the motor vehicle at the end of the lease period, as stated
  in the lease contract or worksheet or as determined under section 8907 of this title. (5)(A) “Taxable cost” means the purchase price as defined in subdivision (4) of this section
  or the taxable cost as determined under section 8907 of this title. (B) For any purchaser who has paid tax on the purchase or use of a motor vehicle that
  was sold or traded by the purchaser or for which the purchaser received payment under
  a contract of insurance, the taxable cost of the replacement motor vehicle other than
  a leased vehicle shall exclude: