Form Lg-1 - Vermont Land Gains Withholding Tax Return

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Vermont Department of Taxes 133 State Street
Montpelier, VT 05633-1401
VERMONT LAND GAINS
*13LG11100*
F
orm
WITHHOLDING TAX RETURN
LG-1
To be completed by BUYER (TRANSFEREE)
* 1 3 L G 1 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.
PROPERTY LOCATION
4.
DATE ACQUIRED BY SELLER
5.
DATE OF CLOSING
6.
TOTAL SALES PRICE
7.
SALES PRICE ATTRIBUTABLE
TO LAND (SEE INSTRUCTIONS)
8.
EXEMPTIONS CLAIMED BY BUYER - CHECK BOX IF APPLICABLE.
NOTE:
IF BUYER FAILS TO COMPLY WITH ALL NECESSARY REQUIREMENTS FOR EXEMPTION, BUYER WILL BE LIABLE
FOR THE TAX AS SHOWN ON LINE 19a OF FORM LG-2 IN THE AMOUNT OF $________________________.
8a.  PURCHASER’S PRINCIPAL RESIDENCE EXEMPTION
8d.  SELLER’S PRINCIPAL RESIDENCE EXEMPTION*
8b.  BUILDER’S EXEMPTION
8e.  AFFORDABLE HOUSING
(IDENTIFY WHICH TYPE;
8c.  AGRICULTURAL EXEMPTION 1. 
OR 2. 
8f.  OTHER (PLEASE EXPLAIN)
SEE INSTRUCTIONS)
* EXEMPTION MUST BE CLAIMED BY SELLER ON VERMONT LAND GAINS TAX RETURN (FORM LG-2)
9.
SALES PRICE ATTRIBUTABLE TO TAXABLE LAND:
IF THIS ENTIRE PARCEL IS SUBJECT TO TAX, ENTER THE AMOUNT FROM LINE 7 ON LINE 9d.
IF THE ENTIRE PARCEL IS EXEMPT FROM TAX, ENTER ZERO ON LINE 9d.
IF ONLY A PORTION OF THE LAND IS EXEMPT FROM TAX, ENTER THE FOLLOWING:
9a. TOTAL NUMBER OF ACRES OR SQUARE FEET SOLD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9a.
9b. NUMBER OF TAXABLE ACRES OR SQUARE FEET - SEE INSTRUCTIONS . . . . . . . . . . . . . . . . .
9b.
9c. DIVIDE LINE 9b BY LINE 9a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9c.
9d. MULTIPLY LINE 9c BY LINE 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9d.
IF THIS IS NOT AN INSTALLMENT SALE, SKIP TO LINE 11.
10. IF THIS IS AN INSTALLMENT SALE, ATTACH PROMISSORY NOTE AND ENTER THE FOLLOWING:
10a. AMOUNT OF THIS PRINCIPAL PAYMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10a.
$
10b. DIVIDE LINE 9d BY LINE 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10b.
%
10c. AMOUNT OF THIS PAYMENT SUBJECT TO WITHHOLDING: MULTIPLY LINE 10a BY LINE 10b . . . . . . . . . . . . . . . . . . . . . . . . . . . 10c.
11. TAX DUE:
11a. ENTER THE AMOUNT ON LINE 9d (LINE 10c IF INSTALLMENT SALE) . . . . . . . . . . . . . . . . . . . . . 11a.
$
11b. WITHHOLDING TAX RATE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11b.
10%
11c. TAX DUE: MULTIPLY LINE 11a BY LINE 11b. IF SELLER OBTAINED
ADVANCE CERTIFICATION, ENTER COMMISSIONER’S CERTIFICATE
NO. _____________________________
è
AND THE AMOUNT OF WITHHOLDING REQUIRED BY THE CERTIFICATE.
11c.
 CHECK HERE IF SELLER IS SIMULTANEOUSLY FILING A VERMONT LAND GAINS TAX RETURN (FORM LG-2) AND PAYING THE FULL AMOUNT OF TAX DUE
WE HEREBY CERTIFY THIS RETURN IS TRUE, CORRECT AND COMPLETE TO THE BEST OF OUR KNOWLEDGE.
_______________________________________________________________________
_____________________________________________________________________________
SIGNATURE OF BUYER (Transferee)
DATE
PREPARER’S SIGNATURE
_______________________________________________________________________
_____________________________________________________________________________
SIGNATURE OF BUYER (Transferee)
DATE
PREPARED BY - PRINT OR TYPE
TELEPHONE NO.
_______________________________________________________________________
_____________________________________________________________________________
SIGNATURE OF BUYER (Transferee)
DATE
MAILING ADDRESS - STREET OR PO BOX
_______________________________________________________________________
_____________________________________________________________________________
SIGNATURE OF BUYER (Transferee)
DATE
CITY, STATE, ZIP
MAKE CHECKS PAYABLE TO AND MAIL WITH THIS FORM TO:
VERMONT DEPARTMENT OF TAXES, LAND GAINS WITHHOLDING TAX, 133 STATE STREET, MONTPELIER, VT 05633
FORM LG-1
Clear ALL data
5454
Print
KEEP A COPY OF THIS RETURN FOR YOUR RECORDS.
Rev. 08/13

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