Minnesota bill proposes to increase the general subtraction amount for estate tax.

Minnesota HF147 amends estate tax laws by increasing the general subtraction amount. The bill adjusts the exclusion amounts for different years, starting at $1,400,000 for estates of decedents dying in 2015 and rising to $6,000,000 for estates of decedents dying in 2020 and thereafter. The changes apply to estates of decedents dying after June 30, 2025.

Minnesota bill proposes to increase the general subtraction amount for estate tax.

Minnesota HF147 amends estate tax laws by increasing the general subtraction amount. The bill adjusts the exclusion amounts for different years, starting at $1,400,000 for estates of decedents dying in 2015 and rising to $6,000,000 for estates of decedents dying in 2020 and thereafter. The changes apply to estates of decedents dying after June 30, 2025.