§ 7443. Estate tax reduction for estate of a farmer
The amount of tax determined under section 7442a of this chapter on an estate that qualifies for installment payment of estate taxes under 26 U.S.C. § 6166, and in which the closely held business is the business of farming in Vermont, shall be reduced by the percentage that the value of the closely held farm business, as determined for federal estate tax purposes, bears to the value of the federal adjusted gross estate. (Added 2001, No. 140 (Adj. Sess.), § 21, eff. June 21, 2002; amended 2003, No. 70 (Adj. Sess.), § 51, eff. March 1, 2004.)
Structure Vermont Statutes
Title 32 - Taxation and Finance
Chapter 190 - Estate and Gift Taxes
§ 7442a. Imposition of a Vermont estate tax and rate of tax
§ 7443. Estate tax reduction for estate of a farmer
§ 7445. Copies of federal estate tax returns to be filed
§ 7446. When returns to be filed
§ 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
§ 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
§ 7472. Abatement of tax liabilities
§ 7473. Allocation of payments
§ 7474. Inconsistent provisions
§ 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
§ 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
§ 7493. Tax a debt to the State
§ 7494. Action to collect taxes; limitations