Vermont Statutes
Chapter 233 - Sales and Use Tax
§ 9742. Transactions not covered

§ 9742. Transactions not covered
This chapter shall not cover the following transactions:
(1) [Repealed.]
(2) the transfer of tangible personal property to a corporation solely in consideration for the issuance of its stock, pursuant to a merger or consolidation effected under the laws of Vermont or any other jurisdiction;
(3) the distribution of property by a corporation to its stockholders as a liquidating dividend;
(4) the distribution of property by a partnership to its partners in whole or partial liquidation;
(5) the transfer of property to a corporation upon its organization in consideration for the issuance of its stock;
(6) the contribution of property to a partnership in consideration for a partnership interest therein;
(7) the sale of tangible personal property where the purpose of the vendee is to hold the thing transferred as security for the performance of an obligation of the vendor;
(8) the sawing of lumber owned by the person requesting the sawing or his agent is not a “fabrication” within the meaning of subdivision 9771(3) of this title;
(9) the use of waste wood for fuel by a manufacturer in its business, where the waste wood resulted from the manufacturing operations of the manufacturer, and where such wood was purchased by the manufacturer under a claim of the manufacturing exemption provided by subdivision 9741(14) of this title or was grown by such manufacturer; and the giving away without charge of such waste wood by such manufacturer; and
(10) the sale of telecommunications service to an affiliate of the telecommunications provider. (Added 1969, No. 144, § 1, eff. June 1, 1969; amended 1971, No. 73, § 50, eff. April 16, 1971; 1977, No. 86, § 7; 1983, No. 111 (Adj. Sess.), eff. Feb. 24, 1984; 1997, No. 60, § 80, eff. Sept. 1, 1997.)

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