Vt. Stat. Ann. tit. 32, § 7443
Estate tax reduction for estate of a farmer
Redline — January 1, 2022 → current.View current text →
Current — June 1, 2022
As of January 1, 2022
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.
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.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.