Public-domain · open source
OpenJurist

Vt. Stat. Ann. tit. 32, § 7442a

Imposition of a Vermont estate tax and rate of tax

Redline — January 1, 2022 → current.View current text →
Current — June 1, 2022
As of January 1, 2022
(1) A tax is hereby imposed on the transfer of the estates of decedents as prescribed by this chapter.
(1) A tax is hereby imposed on the transfer of the estates of decedents as prescribed by this chapter.
(2) 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.
(2) 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.
(3) All values shall be as finally determined for federal estate tax purposes.
(3) All values shall be as finally determined for federal estate tax purposes.
(4) [Repealed.]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. 1 60 (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.
(4) [Repealed.]
Amount of Vermont Taxable Estate Rate of Tax Under $5,000,000.00 None $5,000,000.00 or more 16 percent of the excess over $5,000,000.00
Amount of Vermont Taxable Estate Rate of Tax PARASTAT=“s” DESISTAT=“”>Under $5,000,000.00 None PARASTAT=“s” DESISTAT=“”>$5,000,000.00 or more 16 percent of the PARASTAT=“s” DESISTAT=“”> excess over PARASTAT=“s” DESISTAT=“”> $5,000,000.00

Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.