2013 Vermont Statutes
Title 32 Taxation and Finance
Chapter 190 ESTATE AND GIFT TAXES
§ 7475 Adoption of federal estate and gift tax laws
7475. Adoption of federal estate and gift tax laws
The laws of the United States relating to federal estate and gift taxes as in effect on December 31, 2012, are hereby adopted for the purpose of computing the tax liability under this chapter, except:
(1) the credit for State death taxes shall remain as provided for under 26 U.S.C. 2011 and 2604 as in effect on January 1, 2001;
(2) the applicable credit amount shall under 26 U.S.C. 2010 shall not apply; and the tax imposed under section 7442a of this chapter shall be calculated as if the applicable exclusion amount under 26 U.S.C. 2010 were $2,750,000.00; and
(3) the deduction for State death taxes under 26 U.S.C. 2058 shall not apply. (Added 2001, No. 140 (Adj. Sess.), 15, eff. June 21, 2002; amended 2003, No. 66, 314; 2003, No. 152 (Adj. Sess.), 25, eff. June 7, 2004; 2005, No. 14, 14; 2005, No. 94 (Adj. Sess.), 3, eff. March 8, 2006; 2007, No. 33, 7, eff. May 18, 2007; 2007, No. 190 (Adj. Sess.), 27; 2009, No. 1 (Sp. Sess.), H.35; 2009, No. 160 (Adj. Sess.), 33b; 2011, No. 143 (Adj. Sess.), 12, eff. May 15, 2012; 2013, No. 73, 15.)
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