Vermont Statutes
Chapter 190 - Estate and Gift Taxes
§ 7442a. Imposition of a Vermont estate tax and rate of tax

§ 7442a. Imposition of a Vermont estate tax and rate of tax
(a) A tax is hereby imposed on the transfer of the estates of decedents as prescribed by this chapter.
(b) The tax shall be computed as follows. The following rates shall be applied to the Vermont taxable estate:
The resulting amount shall be multiplied by a fraction not greater than one, where the numerator of which is the value of the Vermont gross estate plus the value of gifts under subdivision 7402(14)(C) of this title with a Vermont situs, and the denominator of which is the federal gross estate plus the value of gifts under subdivision 7402(14)(C) of this title.
(c) All values shall be as finally determined for federal estate tax purposes.
(d) [Repealed.] (Added 1979, No. 140 (Adj. Sess.), § 1; amended 1995, No. 29, § 11, eff. April 14, 1995; 2001, No. 140 (Adj. Sess.), § 12, eff. June 21, 2002; 2009, No. 1 (Sp. Sess.), § H.31; 2009, No. 160 (Adj. Sess.), § 33a; 2015, No. 146 (Adj. Sess.), § 2, eff. Jan. 1, 2016; 2017, No. 73, § 8, eff. Jan. 1, 2016; 2017, No. 113 (Adj. Sess.), § 189; 2019, No. 71, § 5, eff. Jan. 1, 2020; 2019, No. 71, § 6, eff. Jan. 1, 2021.)

Structure Vermont Statutes

Vermont Statutes

Title 32 - Taxation and Finance

Chapter 190 - Estate and Gift Taxes

§ 7401. Purpose

§ 7402. Definitions

§ 7441. Name of tax

§ 7442a. Imposition of a Vermont estate tax and rate of tax

§ 7443. Estate tax reduction for estate of a farmer

§ 7444. Return by executor

§ 7445. Copies of federal estate tax returns to be filed

§ 7446. When returns to be filed

§ 7447. When tax payable

§ 7448. Extension of time for payment

§ 7449. Probate Division to send Commissioner notice of estate

§ 7450. Powers and duties of executor or administrator appointed for nonresident

§ 7451. Appointment of resident administrator for nonresident’s estate

§ 7452. Personal liability of recipient of property; effect of transfer of property to bona fide purchaser, etc

§ 7453. Reimbursement of person other than executor paying tax

§ 7454. Discharge of executor; income tax clearance; notice of proceedings in court

§ 7460. Generation-skipping transfers

§ 7470. Administration of chapter

§ 7471. Regulations

§ 7472. Abatement of tax liabilities

§ 7473. Allocation of payments

§ 7474. Inconsistent provisions

§ 7476. Additional returns

§ 7477. Failure to file a return; petition and computation of tax

§ 7478. Examination of records and witnesses

§ 7479. Supplemental information; changes in federal tax liability or in taxable gifts or estate

§ 7480. Form and verification of returns

§ 7481. Extension of time for filing of returns

§ 7483. Method of payment

§ 7486. Time limitation on notices of deficiency and assessment of penalty and interest

§ 7487. Determination of deficiency, penalty, or interest

§ 7488. Refunds; petitions for refunds

§ 7489. Procedure for hearings by Commissioner; appeals

§ 7490. Payment and collection of deficiencies and assessments; jeopardy notices

§ 7491. Remedy exclusive; determination final

§ 7492. Determination of taxable gifts or estate and gift and estate tax liability under the laws of the United States

§ 7493. Tax a debt to the State

§ 7494. Action to collect taxes; limitations

§ 7495. Levy for nonpayment

§ 7496. Liability for failure or delinquency

§ 7497. Tax liability as property lien