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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).
VTaxâModern System Brings New Efficiencies. The Vermont Department of Taxes is pleased to announce the launch of VTax, a modern integrated. tax system to perform all functions for all Vermont tax types. The conversion to VTax will take place. over four years beginning in 2014 with completion scheduled for 2017. The timeline below shows.