Increases the amount excluded from the Minnesota taxable estate and makes conforming changes.

This bill amends Minnesota Statutes to increase the amount excluded from the Minnesota taxable estate for estates of decedents dying after December 31, 2025. The exclusion amount will be $4,000,000 for estates of decedents dying in 2026 and thereafter. The bill also adjusts the subtraction allowed in computing the Minnesota taxable estate and modifies the tax rates and brackets for different estate values. The changes are effective for estates of decedents dying after December 31, 2025.

Increases the amount excluded from the Minnesota taxable estate and makes conforming changes.

This bill amends Minnesota Statutes to increase the amount excluded from the Minnesota taxable estate for estates of decedents dying after December 31, 2025. The exclusion amount will be $4,000,000 for estates of decedents dying in 2026 and thereafter. The bill also adjusts the subtraction allowed in computing the Minnesota taxable estate and modifies the tax rates and brackets for different estate values. The changes are effective for estates of decedents dying after December 31, 2025.