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Monday, December 23, 2024

Vermont ranks 17th in the U.S. for the most death and gift taxes paid in 2020

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In 2020, Vermont collected $15.2 million in death and gift taxes, ranking it 17th in the United States, according to the U.S. Census Bureau's Annual Survey of State Government Tax Collections (STC).

The STC survey includes five broad tax categories and up to 25 subcategories. Data is gathered from all 50 state governments and all dependent state-level entities.

The Census Bureau cautions it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Below is a breakdown of how taxes were classified by the bureau and how much was collected.

U.S. death and gift taxes by State in 2020
RankStateAmount
1New York$1,070,166,000
2Pennsylvania$1,051,259,000
3Massachusetts$699,555,000
4Washington$634,915,000
5New Jersey$436,756,000
6Illinois$301,768,000
7Maryland$197,169,000
8Minnesota$148,779,000
9Connecticut$146,650,000
10Oregon$113,796,000
11Iowa$76,275,000
12Rhode Island$56,325,000
13Kentucky$48,250,000
14Hawaii$45,451,000
15District of Columbia$37,249,000
16Maine$21,079,000
17Vermont$15,168,000
18North Carolina$1,279,000
19California$282,000
20Delaware$211,000
21Indiana$139,000
22Virginia$81,000
23Ohio$76,000
24Wisconsin$41,000
25Missouri$8,000
Source: U.S. Census Bureau

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