Minnesota HF170 proposes a ten-year phaseout of the state's estate tax, reducing rates annually starting July 1, 2025.
Minnesota HF170 amends the state's estate tax by phasing out the tax over ten years. Starting July 1, 2025, and each July 1 thereafter until June 30, 2034, the tax rates will be reduced by 1.6 percentage points annually until they reach zero. If a reduction results in a negative rate, the rate will be set to zero. This change affects estates of decedents dying after June 30, 2025.
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