Good question! It is impolite but not vulgar. If a very young child said "it sucks" you would think it rude. If an adult said "it sucks", it would be acceptable in most informal settings, but only really if you weren't talking about something that would not offend the person you are with. For example, if someone played you their new song on the guitar and asked what you thought of it, "it sucks" would be rude, and probably hurt their feelings, although it is still not a vulgar expression.