Harden v. Vermont Department of Taxes

At issue in this cause is whether a grant of an option for the purchase of land, as distinguished from a transfer of an option or the exercise thereof, is subject to the tax on gains for the sale or exchange of land. 32 V.S.A. § 10001 et seq. The Commissioner of Taxes determined that the taxable event was the exercise or the transfer of the option, and not the grant. The Washington Superior Court reversed the determination of the Commissioner, and the Commissioner of Taxes now appeals.

The particular issue in this case, in view of the dates here involved, may never arise again. On April 20,…