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Wealthy Vermonter's death keeps state budget on track - WCAX.COM Local Vermont News, Weather and Sports-

Wealthy Vermonter's death keeps state budget on track

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MONTPELIER, Vt. -

The death of a wealthy Vermonter helped keep the state's budget on track for the fiscal year.

The state revenue report for April shows a record monthly take of $19 million for the inheritance tax. That's $4 million more than that tax raised all of last year. State officials say these kinds of spikes occur occasionally for the inheritance tax following the death of particularly wealthy resident.

The person's name cannot be publicly released.

The timing of that tax collection couldn't have been better because it helped offset a huge unexpected drop in personal income revenues in April.

Overall for the fiscal year, the state remains on target for a balanced budget and slightly above last year.

Click here for the full revenue report from the Vt. Agency of Administration.

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