Vermont Statutes Title 32 Sec. 7306
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Terms Used In Vermont Statutes Title 32 Sec. 7306
- Estate: means the gross estate of a decedent as determined for the purpose of federal estate tax and the estate tax payable to this State. See
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Tax: means the federal estate tax and the estate tax payable to this State and interest and penalties imposed in addition to the tax. See
§ 7306. No apportionment between temporary and remainder interests
No interest in income and no estate for years or for life or other temporary interest in any property or fund shall be subject to apportionment as between the temporary interest and the remainder. The tax on the temporary interest and the tax, if any, on the remainder shall be chargeable against the corpus of the property or funds subject to the temporary interest and remainder. (Added 1975, No. 240 (Adj. Sess.), § 11.)