Bill > HF1448

This bill addresses estate tax provisions in Minnesota, focusing on the portability of the deceased spousal unused exclusion amount (DSUEA). The bill makes several key changes to existing estate tax laws. First, it establishes a mechanism for personal representatives to elect to allow a surviving spouse to use the deceased spouse's unused estate tax exclusion amount. Under the new provisions, the election is irrevocable and will be automatically deemed unless the personal representative explicitly opts out on the estate tax return. For estates of decedents dying after December 31, 2024, a surviving spouse can now claim an additional estate tax subtraction of up to $3,000,000, which is calculated based on the unused exclusion of the last predeceased spouse. The bill also simplifies the estate tax return requirements, allowing personal representatives to file a return to claim the DSUEA even when a return is not otherwise mandatory. Additionally, the bill removes some obsolete provisions related to previous years' estate tax exclusion amounts and updates the tax rate schedule. The primary goal is to provide more flexibility for married couples in managing their estate tax liability and to align Minnesota's estate tax rules with modern estate planning practices.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF1448&ssn=0&y=2025