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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).
The total federal and Vermont tax bill is $726,153, or about 12% of the taxable estate (the overall effective rate). The Marital Deduction - QTIPs. For a married person, a major estate tax benefit is the ability to transfer assets to his or her spouse free of estate (or gift) taxation.