ACT NO. 41
Labor; unemployment compensation; contribution rating; deception
This act prohibits and establishes penalties for employers who acquire businesses for the purpose of avoiding a high unemployment compensation contribution rate. If an employer transfers its trade or business, and at the time of the transfer there is substantially common ownership control of the two employers, the employment experience attributable to the transferred trade or business shall be transferred to the employer to whom such business is so transferred.
Effective Date: July 1, 2005
The Vermont General Assembly
115 State Street