§ 7443 - Estate tax reduction for estate of a farmer - Vermont Statutes

§ 7443. Estate tax reduction for estate of a farmer

The amount of tax determined under section 7442a of this chapter on an estate which qualifies for installment payment of estate taxes under Section 6166 of the Internal Revenue Code, and in which the closely-held business is the business of farming in Vermont, shall be reduced by the percentage which 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.)