§ 7492. Determination of taxable gifts or estate and gift and estate tax liability under the laws of the United States

For purposes of this chapter, a taxpayer's taxable gifts or taxable estate or gift or estate tax liability under the laws of the United States shall be determined by reference to the judicial decisions and administrative rulings of the United States.

(1) A determination by the United States which establishes the amount of a taxpayer's taxable gifts or taxable estate or gift or estate tax liability under the laws of the United States shall be binding on the taxpayer and the State in calculating the taxpayer's liability to Vermont under this chapter. For purposes of this section, "determination by the United States" means:

(A) A decision by the Tax Court of the United States or a judgment, decree or other order by any United States court of competent jurisdiction which has become final;

(B) A closing agreement under 26 U.S.C. § 7121.

(2) For any taxable year, the payment to the United States by any taxpayer of an aggregate amount of gift or estate tax, whether under a claim of deficiency, demand or otherwise, and whether under protest or otherwise, shall be prima facie evidence, for purposes of this chapter, that the aggregate amount, less any refunds received by the taxpayer from the United States with respect to gift or estate tax payments for that year, as the case may be, constitutes the gift or estate tax liability of the taxpayer under the laws of the United States, and that the items of gifts or of an estate, or of income, deductions, exemptions and credits with respect to which the gift or estate tax liability was calculated are the items of gifts or of an estate, or of income, deductions, exemptions, and credits of the taxpayer under the laws of the United States.

(3) For purposes of this section, the affidavit of any United States district director of internal revenue that a taxpayer (A) has paid a specified aggregate amount of gift or estate tax; (B) has received a specified amount of refund with respect to his gift or estate tax payments; or (C) has paid any amount of tax calculated with respect to specified items of gifts or of an estate, or of income, deductions, exemptions, or credits, shall be prima facie evidence of the truth of those matters set forth in the affidavit. (Added 1969, No. 269 (Adj. Sess.), § 1, eff. date, see note under § 7401 of this title.)