2005 Vermont Code - § 9613. — Penalties

§ 9613. Penalties

In addition to any interest payable pursuant to section 9612 of this title, any person who, without fraud or willful intent to defeat or evade a tax liability imposed by this chapter, fails to pay that tax liability, within thirty days of the date when the tax is required to be paid, shall pay a penalty equal to five percent of the outstanding tax liability for each month or portion thereof thereafter that the tax liability is not paid in full; provided, however, that in no event shall the amount of any penalty imposed hereunder exceed 25 percent of the tax liability unpaid on the prescribed date of payment. Whenever any tax assessed under this chapter was unpaid due to fraud with intent to defeat or evade the tax imposed by this chapter, a penalty equal to the amount of such tax as determined by the commissioner shall be added to said assessment, and interest shall be payable on the unpaid amount of the tax at the rate set forth in section 9612 of this title. For reasonable cause the commissioner may waive or abate all or any part of such penalties and such interest. (Added 1971, No. 73, § 46, eff. April 16, 1971; amended 1979, No. 105 (Adj. Sess.), § 37.)