The Virginia estate tax is a transfer tax on the estates of resident decedents and the estates of nonresident decedents having real estate or tangible personal property located in Virginia. See more details here - http://www.tax.virginia.gov/site.cfm?alias=Estate#GeneralInfo
following form EST-80 should be used - http://www.tax.virginia.gov/web_pdfs/indforms/EST80a.pdf. Federal estate tax return (forn 706) should be attached.
Virginia doesn't have gift tax and gift is considered as taxable income.
Sorry, this is typo. Should be read: the gift is considered non-taxable income.
The gift (either cash or property) valued less than $12,000 (for 2006) per person per year will not have any tax circumstances. The gift above this amount would require the giftor to file gift tax return - IRS form 709 - http://www.irs.gov/pub/irs-pdf/f709.pdf. The gift tax would due if lifetime limit $1,000,000 is reached.
Virginia doesn't have gift tax.