Vermont Statutes Title 32 Sec. 435
Terms Used In Vermont Statutes Title 32 Sec. 435
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- State: means the State of Vermont; a county, a municipality, or other subdivision thereof; commission, board, department, or agency thereof; or any other governmental entity authorized or created by State law, including public corporations and authorities. See
§ 435. General Fund
(a) There is established the General Fund, which shall be the basic operating fund of the State. The General Fund shall be used to finance all expenditures for which no special revenues have otherwise been provided by law.
(b) The General Fund shall be composed of revenues from the following sources:
(1) alcoholic beverage tax levied pursuant to 7 Vt. Stat. Ann. chapter 15;
(2) [Repealed.]
(3) [Repealed.]
(4) corporate income and franchise taxes levied pursuant to chapter 151 of this title;
(5) individual income taxes levied pursuant to chapter 151 of this title;
(6) all corporation taxes levied pursuant to chapter 211 of this title;
(7) 69 percent of the meals and rooms taxes levied pursuant to chapter 225 of this title;
(8) [Repealed.]
(9) [Repealed.]
(10) 33 percent of the revenue from the property transfer taxes levied pursuant to chapter 231 of this title and the revenue from the gains taxes levied each year pursuant to chapter 236 of this title; and
(11) [Repealed.]
(12) all other revenues accruing to the State not otherwise required by law to be deposited in any other designated fund or used for any other designated purpose. (Added 1973, No. 262 (Adj. Sess.), § 52; amended 1975, No. 254 (Adj. Sess.), § 163; 1977, No. 118 (Adj. Sess.), § 2, eff. Feb. 3, 1978 for tax years beginning Jan. 1, 1978; 1997, No. 156 (Adj. Sess.), § 39, eff. April 29, 1998; 1999, No. 49, § 78; 1999, No. 66 (Adj. Sess.), § 55, eff. Feb. 8, 2000; 1999, No. 152 (Adj. Sess.), § 272b; 2003, No. 68, § 37, eff. July 1, 2004; 2005, No. 191 (Adj. Sess.), § 43; 2011, No. 143 (Adj. Sess.), § 56a, eff. July 1, 2013; 2017, No. 74, § 134; 2017, No. 85, § H.4, eff. July 1, 2018; 2018, No. 11 (Sp. Sess.), § H.9; 2019, No. 76, § 4a, eff. Oct. 1, 2019; 2021, No. 105 (Adj. Sess.), § 448, eff. July 1, 2022.)