The Vermont Statutes Online
The Statutes below include the actions of the 2024 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 32 : Taxation and Finance
Chapter 190 : Estate and Gift Taxes
Subchapter 003 : ESTATE TAX
(Cite as: 32 V.S.A. § 7443)-
§ 7443. Estate tax reduction for estate of a farmer
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.)
