Minnesota estate tax exclusions updated and portability of deceased spousal unused exclusion amounts provided.

The bill updates the estate tax exclusions in Minnesota for estates of decedents dying after June 30, 2025. It removes obsolete provisions and provides portability of the estate tax exclusion. The bill allows a personal representative of a decedent's estate to elect, on a return, to allow a decedent's surviving spouse to take into account the decedent's deceased spousal unused exclusion amount. The election is irrevocable.

Minnesota estate tax exclusions updated and portability of deceased spousal unused exclusion amounts provided.

The bill updates the estate tax exclusions in Minnesota for estates of decedents dying after June 30, 2025. It removes obsolete provisions and provides portability of the estate tax exclusion. The bill allows a personal representative of a decedent's estate to elect, on a return, to allow a decedent's surviving spouse to take into account the decedent's deceased spousal unused exclusion amount. The election is irrevocable.