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S.F. No. 577 - Modification of Look-Back Period for Taxable Gifts Included in the Taxable Estate
Author: Senator Lyle Koenen
Prepared By: Nora Pollock, Senate Counsel (651/297-8066)
Date: March 16, 2015


This bill modifies the look-back period for which taxable gifts are included in the taxable estate.  Under current law, taxable gifts made after June 30, 2013 within three years of the date of death are included in the taxable estate.  This bill reduces the look-back period to one year.  Effective for estates of decedents dying after December 31, 2014. 




Modifies the return filing requirement to reflect that the filing threshold applies to taxable gifts made within one year of the decedent’s date of death.


Modifies the definition for situs property that applies to gifts of tangible personal property by applying the proposed one-year look-back period.


Reduces the look-back period for taxable gifts that must be added to the Minnesota taxable estate from three years from the decedent’s date of death to one year prior. 

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