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Major Vermont Taxes

Land Gains Tax

A tax is imposed on the gain from the sale or exchange of land if held by the seller for less than six years. The tax applies to only the gain attributed to land (not buildings or structures). The tax
is not imposed if:

  • the land is part of the first ten acres beneath or contiguous to the seller’s principal residence;

  • the land is purchased to build buyer’s principal residence (some conditions apply).

Land may include timber and timber rights sold providing the underlying land is also sold within six years (some conditions apply).

Real Estate Withholding

In addition to the Land Gains Tax, sales of Vermont properties by an owner not a resident of Vermont require 2.5 percent of the selling price to be withheld at the time of the sale and remitted
to the Vermont Department of Taxes. This amount is applied towards the seller's Vermont income tax liability.

E-Mail the Land Gains and Real Estate Withholding Tax Unit

 

Tax Types :
- Business Entity Income Tax
- Cigarette and Tobacco Taxes
- C Corporation Income Tax
- Estate and Gift Taxes
- Fiduciary Tax
- Franchise Tax
- Fuel Gross Receipts / Petroleum Distributor
- Health Care Claims Tax
- Individual Income Tax
- Land Gains and Real Estate Withholding
- Meals and Rooms Tax
- Motor Vehicle Tax
- Property Tax
- Property Transfer Tax
- Sales and Use Tax

 
Vermont Department of Taxes, 133 State Street, Montpelier, Vermont 05633-1401