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Searching 2019-2020 Session

The Vermont Statutes Online

 

Title 32: Taxation and Finance

Chapter 187: INTERSTATE COMPROMISE OF DEATH TAXES

  • § 7201. Definitions

    As used in this chapter, the following words or phrases shall mean and include:

    (1) "Death taxes," estate taxes, inheritance taxes, succession taxes, taxes upon transfers made in contemplation of death, or any tax which arises because an individual has deceased;

    (2) "State," any state, territory, or possession of the United States, and the District of Columbia.

  • § 7202. Agreement; filing; interest and penalties

    When the Commissioner of Taxes claims that a decedent was domiciled in this State at the time of his or her death and the taxing authorities of another state or states make a like claim on behalf of their state or states, the Commissioner of Taxes may, with the approval of the Attorney General, make a written agreement of compromise with the other taxing authorities and the executor or administrator that a certain sum shall be accepted in full satisfaction of any and all death taxes imposed by this State, including any interest or penalties to the date of filing agreement. The agreement shall also fix the amount to be accepted by the other states in full satisfaction of death taxes. The executor or administrator is hereby authorized to make such agreement. Either the Commissioner of Taxes or the executor or administrator shall file the agreement, or a duplicate, with the authority that would be empowered to determine death taxes for this State if there had been no agreement; and thereupon the tax shall be deemed conclusively fixed as therein provided. Unless the tax is paid within 30 days after filing the agreement, interest or penalties shall thereafter accrue upon the amount fixed in the agreement, but the time between the decedent's death and the filing shall not be included in computing the interest or penalties.

  • § 7203. Uniform interpretation

    This chapter shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it.