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:
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
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[Repealed.] (

Last amended: 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.)

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