Vermont Department of Taxes 133 State Street
Montpelier, VT 05633-1401
*13LG21100*
VERMONT LAND GAINS TAX RETURN
F
orm
LG-2
To be completed by SELLER (TRANSFEROR)
* 1 3 L G 2 1 1 0 0 *
PLEASE TYPE OR PRINT CLEARLY
SOCIAL SECURITY NO.(S) OR
1. SELLER’S (TRANSFEROR’S) NAME(S)
COMPLETE MAILING ADDRESS FOLLOWING TRANSFER
FEDERAL IDENTIFICATION NO.
SOCIAL SECURITY NO.(S) OR
2. BUYER’S (TRANSFEREE’S) NAME(S)
COMPLETE MAILING ADDRESS FOLLOWING TRANSFER
FEDERAL IDENTIFICATION NO.
3. INTEREST IN PROPERTY
FEE SIMPLE
UNDIVIDED _______ INTEREST
LEASE
OTHER _______________________________
UNDIVIDED 1/2 INTEREST
TIMESHARE
EASEMENT
RESALE OF OPTION
4a. PROPERTY LOCATION (ADDRESS IN FULL)
4b. NO. OF ACRES OR NO. OF SQUARE FT.
5. TYPE OF PROPERTY
8. HOLDING PERIOD
6. EXEMPTIONS
7. HOW ACQUIRED
a. LAND
a. DATE ACQUIRED
a.
PURCHASER’S PRINCIPAL RESIDENCE EXEMPTION*
1. OPEN
b.
BUILDER’S EXEMPTION*
a.
PURCHASE
2. TIMBER/TIMBER RIGHTS
c.
AGRICULTURAL EXEMPTION*
1.
OR 2.
b.
INHERITANCE
b. DATE SOLD
b. LAND & BUILDINGS
d.
SELLER’S PRINCIPAL RESIDENCE EXEMPTION
c.
GIFT
1. RESIDENTIAL
e.
AFFORDABLE HOUSING*
c. TIME HELD
d.
OTHER
2. COMMERCIAL
f.
OTHER
3. CAMP OR VACATION
*THESE EXEMPTIONS DO NOT APPLY UNLESS CLAIMED BY
4. RENTAL
BUYER ON VERMONT LAND GAINS WITHHOLDING TAX RETURN.
9. TOTAL SELLING PRICE: (LESS PERSONAL PROPERTY) - LAND & BUILDINGS ONLY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
10. LESS SELLING EXPENSES:
10a. LEGAL FEES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10a.
10b. SALES COMMISSIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10b.
10c. ADVERTISING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10c.
10d. OTHER (PLEASE LIST) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10d.
10e. TOTAL SELLING EXPENSE: ADD LINES 10a - 10d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10e.
11. ADJUSTED SELLING PRICE: SUBTRACT LINE 10e FROM LINE 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
12. COST OF LAND:
12a. COST OF LAND . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12a.
12b. COST OF LAND IMPROVEMENTS (ATTACH LIST) . . . . . . . . . . . . . . . . . . 12b.
12c. TRANSFER TAX (AT PURCHASE) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12c.
12d. LEGAL FEES (AT PURCHASE) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12d.
12e. OTHER (ATTACH LIST) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12e.
12f. TOTAL: ADD LINES 12a - 12e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12f.
13. COST OF STRUCTURES:
13a. COST OF STRUCTURES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13a.
13b. OTHER (ATTACH LIST) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13b.
13c. OTHER (ATTACH LIST) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13c.
13d. OTHER (ATTACH LIST) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13d.
13e. TOTAL: ADD LINES 13a - 13d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13e.
14. TOTAL COST OF LAND AND STRUCTURES: ADD LINES 12f AND 13e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.
15. TOTAL GAIN OR LOSS: SUBTRACT LINE 14 FROM LINE 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.
16. GAIN AS A PERCENTAGE OF BASIS: DIVIDE LINE 15 BY LINE 14 AND ROUND TO THE NEXT HIGHEST WHOLE NUMBER . . . . . . . . . . . . 16.
%
17. TAXABLE GAIN: SEE INSTRUCTIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.
18. TAX RATE: SEE INSTRUCTIONS AND RATE TABLE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.
19. TAX DUE: MULTIPLY LINE 17 BY LINE 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.
19a. TAX DUE FROM BUYER: IF BUYER FAILS TO MEET ALL REQUIREMENTS OF THE EXEMPTION CLAIMED ON LINE 6,
TURN FORM OVER AND
BUYER IS LIABLE FOR $___________________.
CONTINUE ON REVERSE SIDE
FORM LG-2
5454
Keep a copy of this return for your records.
Rev. 06/15