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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).
Not on your federal return. The IRS doesn't impose an inheritance tax. Only a handful of states (Iowa, Kentucky, Maryland, Nebraska, New Jersey and Pennsylvania) have some kind of inheritance tax. Refer to your state's Department of Revenue to see what the requirements are for filing inheritance tax. For Tennessee - The inheritance tax is no longer imposed after December 31, 2015.