Vermont Statutes Title 32 Sec. 7444
Terms Used In Vermont Statutes Title 32 Sec. 7444
- Commissioner: means the Commissioner of Taxes appointed under 3 V. See
- Decedent: A deceased person.
- Executor: A male person named in a will to carry out the decedent
- Executor: means the executor or administrator of the estate of the decedent or, if there is no executor or administrator appointed, qualified, and acting within Vermont, then any person in actual or constructive possession of any property of the decedent. See
- Fiduciary: A trustee, executor, or administrator.
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
§ 7444. Return by executor
(a) An executor shall submit a Vermont estate tax return to the Commissioner, on a form prescribed by the Commissioner, when a decedent has an interest in property with a situs in Vermont and one or both of the following apply:
(1) a federal estate tax return is required to be filed under 26 U.S.C. § 6018; or
(2) the sum of the federal gross estate and federal adjusted taxable gifts, as defined in 26 U.S.C. § 2001(b), made within two years of the date of the decedent’s death exceeds $2,750,000.00.
(b) If the executor is unable to make a complete return as to any part of the gross estate of the decedent, the executor shall include in the executor’s return, to the extent of the executor’s knowledge or information, a description of such part and the name of every person holding a legal or beneficial interest therein. Upon notice from the Commissioner, such person shall in like manner make a return as to such part of the gross estate. A return made by one of two or more joint fiduciaries shall be sufficient compliance with the requirements of this section. A return made pursuant to this section shall contain a statement that the return is, to the best of the knowledge and belief of the fiduciary, true and correct. (Added 1969, No. 269 (Adj. Sess.), § 1, eff. date, see note under § 7401 of this title; amended 2003, No. 70 (Adj. Sess.), § 52, eff. March 1, 2004; 2009, No. 1 (Sp. Sess.), § H.32; 2015, No. 146 (Adj. Sess.), § 3, eff. Jan. 1, 2016; 2021, No. 105 (Adj. Sess.), § 558, eff. July 1, 2022.)