Vt Form E-1 - Estate Tax Return Resident And Nonresident
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3Instructions for VT Estate Tax Return - Form E-1
WHO MUST FILE A
Special Instructions for Schedule A
The value to use for Schedule A, Line 5 is determined from
VT ESTATE TAX RETURN?
a calculation of the tax on a pro forma Federal Form 706. To
complete the calculation on the Federal pro forma, no state
The executor or other fiduciary is required to file a Vermont
death tax deduction is allowed on the Federal Form 706,
return for all estates with a tax due under 32 V.S.A. § 7442a.
Line 3b. The maximum unified credit (Federal Form 706,
Nonresident estates that include personal property and real
Line 9) is $780,800 for deaths occurring in 2006-2010.
estate located in Vermont are required to file using the total
The maximum unified credit (Federal Form 706, Line 11)
value of Vermont and out-of-state assets in determining
is $943,300 for deaths occurring in 2011 & 2012 and
Vermont Estate tax liability.
$1,045,800 for deaths occurring in 2013 & 2014.
GENERAL INSTRUCTIONS
VT ESTATE TAX DEFINITIONS
Date of Filing Returns
Vermont Resident Decedent means a person whose domicile
Vermont Estate Tax Returns are required to be filed within
is in Vermont at date of death.
nine months of the death of the decedent. To receive a
six-month extension of time to file the Vermont Estate
* Non-Vermont Gross Estate - For a decedent who is a
Tax Return, file either a copy of the Federal Extension,
Resident of Vermont, Non-Vermont Gross Estate
Form 4768 or our VT Extension, Form ES-164.
means the total value of real estate and tangible
personal property (cars, boats, clothes, jewelry,
Tax Payable
furniture, etc.) which is located outside Vermont at
The Vermont Estate Tax is due and payable by the
the date of death and is taxed in another state.
executor or other fiduciary at the time the Vermont Estate
** Vermont Gross Estate - For a decedent who is a
Tax Return is required to be filed. An extension of time
Nonresident of Vermont, Vermont Gross Estate
to file the VT Estate Tax Return does not extend the time
means the value of real estate and tangible personal
to pay. The tax estimated to be due must be paid with
property (cars, boats, clothes, jewelry, furniture, etc.)
the extension of time request.
which is located in Vermont at date of death.
Where to File
PLEASE NOTE: Bank accounts, stocks, bonds and
Vermont Department of Taxes
mortgages are intangible assets and are taxable by the State in
133 State Street
which the decedent was a resident at time of death regardless
Montpelier, VT 05633-1401
of where the asset was located at the date of death.
What to File When a Vermont Return is Required
•
In the case where no federal tax or return is due, the
FOR ADDITIONAL INFORMATION
executor must file a complete pro forma Federal
Form 706, including all exhibits and appraisals, with
VT Department of Taxes
the Vermont Estate Tax Return.
133 State Street
•
When Federal tax is due and all assets are located in
Montpelier, VT 05633-1401
Vermont, the first page of Federal Form 706 should
be included with the Vermont return.
Ph:
1-802-828-6820
•
When Federal tax is due, and some assets are located
Fax: 1-802-828-2720
outside of Vermont, attach the Federal Form 706 to
E-mail: estate@state.vt.us
the Vermont return excluding exhibits and appraisals.
•
A duplicate of the estate tax closing letter issued by
the IRS must be filed with this Department.
NOTE: An estate with a closely-held farm business may be eligible for a
special reduction in the Vermont estate tax. Contact the Vermont Department
of Taxes at (802) 828-6820 for more information.
Instructions for Form E-1
Rev. 08/14
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