§ 7475 - Adoption of federal estate and gift tax laws - Vermont Statutes

§ 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 January 1, 2009, 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 Sections 2011 and 2604 of the Internal Revenue Code as in effect on January 1, 2001;

(2) the applicable credit amount shall remain as provided for under Section 2010 of the Internal Revenue Code as in effect on January 1, 2008; and

(3) the deduction for state death taxes under Section 2058 of the Internal Revenue Code 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.)