(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 $5,000,000.00The 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 (c) All values shall be as finally determined for federal estate tax purposes.(d) [Repealed.] (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. , 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.)
Vermont Legal Code