Form E-1 - Vermont Estate Tax Return Page 4
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4COMPUTATION SCHEDULES
SCHEDULE A. Vermont Estate Tax Calculation - For use by all filers.
To complete the worksheet below, you will need to complete a pro forma Federal Form 706 leaving Line 3b blank. If the estate
is not subject to federal tax, the complete 706, including exhibits and appraisals must be submitted with the Vermont return. If
the estate is subject to federal tax, the exhibits and appraisals do not need to be submitted with the Vermont return.
1. Federal tentative taxable estate from Federal Form 706, Page 1, Line 3a . . . . . . . . . . . . . . . . . . . . 1. _______________________
60,000.00
2. Adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. _______________________
3. Adjusted taxable estate. Subtract Line 2 from Line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. _______________________
4. Use the amount on Line 3 above to compute the estate tax liability
using the Vermont Estate Tax Table. Enter the tax amount here. . . . . . . . . . . . . . . . . . . . . . . . . . . 4. _______________________
5. Enter amount from pro forma Federal Form 706, Page 1, Line 12 . . . . . . . . . . . . . . . . . . . . . . . . . 5. _______________________
6. Vermont estate tax. Enter the amount from Line 4 or Line 5, whichever is smaller. . . . . . . . . . . . 6. _______________________
Vermont Estate Tax Table - Computation of Estate Tax Liability
(1)
(2)
(3)
(4)
(1)
(2)
(3)
(4)
Adjusted taxable
Adjusted taxable
Tax on amount in
Rate of tax on
Adjusted taxable
Adjusted taxable
Tax on amount in
Rate of tax on
estate equal to or
estate less than -
column (1)
excess over
estate equal to or
estate less than -
column (1)
excess over
more than -
amount in
more than -
amount in
column (1)
column (1)
0
$40,000
0
None
2,540,000
3,040,000
146,800
8.8%
$40,000
90,000
0
0.8%
3,040,000
3,540,000
190,800
9.6%
90,000
140,000
$400
1.6%
3,540,000
4,040,000
238,800
10.4%
140,000
240,000
1,200
2.4%
4,040,000
5,040,000
290,800
11.2%
240,000
440,000
3,600
3.2%
5,040,000
6,040,000
402,800
12.0%
440,000
640,000
10,000
4.0%
6,040,000
7,040,000
522,800
12.8%
640,000
840,000
18,000
4.8%
7,040,000
8,040,000
650,800
13.6%
840,000
1,040,000
27,600
5.6%
8,040,000
9,040,000
786,800
14.4%
1,040,000
1,540,000
38,800
6.4%
9,040,000
10,040,000
930,800
15.2%
1,540,000
2,040,000
70,800
7.2%
10,040,000
- - -
1,082,800
16.0%
2,040,000
2,540,000
106,800
8.0%
SCHEDULE B. Vermont Resident Decedents with real and tangible personal property located outside Vermont. (Attach a copy of
the complete 706 unless a federal tax is due. In those cases, attach the 706 excluding exhibits and appraisals.)
1. Vermont estate tax from Schedule A, Line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1.
$
2. Tax liability actually paid for death taxes to a state other than Vermont
(Copies of nonresident returns must be attached.) . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.
$
3. Federal Total Gross Estate from Federal Form 706, Page 1, Line 1 . . . . . . . . . . . . . 3.
$
4. Non-Vermont Gross Estate* (see instructions for definition) . . . . . . . . . . . . . . . . . . 4.
$
5. Ratio of non-Vermont Gross Estate to Federal Estate (Line 4 divided by Line 3) . . 5.
6. Adjusted Vermont estate tax (Multiply Line 1 by Line 5) . . . . . . . . . . . . . . . . . . . . . 6.
$
7. Enter the lesser of Line 2 or 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7.
$
8. Tax Due (Line 1 less Line 7). Enter here and on front of return, Section B . . . . . . . . . . . . . . . . . . . . . . . .8.
$
SCHEDULE C. Nonresident Decedents with real and tangible personal property located in Vermont. (Attach a copy of the complete
706 unless a federal tax is due. In those cases, attach the 706 excluding exhibits and appraisals.)
9. Vermont estate tax from Schedule A, Line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.
$
10. Federal Total Gross from Federal Form 706, Page 1, Line 1 . . . . . . . . . . . . . . . . . 10.
$
11. Vermont Gross Estate** (see instructions for definition) . . . . . . . . . . . . . . . . . . . . 11.
$
12. Ratio of Vermont Gross Estate to Federal Estate (Line 11 divided by Line 10) . . . 12.
13. Adjusted Vermont estate tax (Multiply Line 9 by Line 12)
Tax Due. Enter here and on front of return, Section C. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13.
$
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