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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 Tax is a tax on the estate (the property, money and possessions) of someone whoâs died. Thereâs normally no Inheritance Tax to pay if either: the value of your estate is below the Â£325,000 threshold; you leave everything to your spouse or civil partner, a charity or a community amateur sports club