SF1942

SF1942 (Legislative Session 94 (2025-2026))

Federal estate tax exclusion amount conformation

Related bill: HF166

AI Generated Summary

This bill proposes changes to Minnesota’s estate tax laws by conforming the state’s estate tax exclusion amount to the federal estate tax exclusion amount. Specifically, it amends Minnesota Statutes section 289A.10, subdivision 1, which outlines when a Minnesota estate tax return must be filed.

Under current law, a Minnesota estate tax return is required if a federal estate tax return is required or if the estate’s value exceeds certain thresholds set by state law. The bill appears to align Minnesota’s exemption threshold with federal law, which would likely increase the exemption amount and reduce the number of estates subject to state estate tax.

The legislation also ensures that the return includes a computation of the estate tax due and must be signed by the personal representative of the estate.

Bill text versions

Introduction PDF file

Actions

Date	Chamber	Where	Type	Name	Committee Name
February 26, 2025	Senate	Floor	Action	Introduction and first reading
February 26, 2025	Senate	Floor	Action	Referred to	Taxes

Citations

[
  {
    "analysis": {
      "added": [
        "None"
      ],
      "removed": [
        "None"
      ],
      "summary": "Amendment concerning the requirement to submit a Minnesota estate tax return under section 289A.10.",
      "modified": [
        "Adjusted the estate value thresholds for decedents from prior years and standardized reporting for future years."
      ]
    },
    "citation": "289A.10"
  },
  {
    "analysis": {
      "added": [
        "None"
      ],
      "removed": [
        "None"
      ],
      "summary": "References federal law from the Internal Revenue Code related to adjusted taxable gifts.",
      "modified": [
        "Incorporation of federal gift amount calculations into state return requirements."
      ]
    },
    "citation": "2001b"
  }
]