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The Vermont Estate Tax System. Vermont recently enacted new legislation that imposes a state estate tax regardless of whether there is a federal estate tax imposed. Under this new system, estates in excess of $2.75 million dollars are subject to tax (it is unclear whether lifetime gifts are included in this threshold).
Inheritance Taxes. Heirs pay federal inheritance tax on the net worth of their inheritance. The net worth is the gross value less certain deductions--a mortgage that must be paid off on an inherited house, for instance, or a marital deduction for property inherited by a spouse.hen someone passes on a house, taxes may have to be paid. Inheriting a house can cost the heirs money. Heirs may have to pay a variety of state and federal taxes, which may be due immediately or if they sell the property later.