Senate Counsel, Research
and Fiscal Analysis
Minnesota Senate Bldg.
95 University Avenue W. Suite 3300
St. Paul, MN 55155
(651) 296-4791
Alexis C. Stangl
Director
   Senate   
State of Minnesota
 
 
 
 
 
S.F. No. 12 - Estate Tax Modification (As Proposed to be Amended by the A-5 Amendment)
 
Author: Senator Lyle Koenen
 
Prepared By: Nora Pollock, Senate Counsel (651/297-8066)
 
Date: January 22, 2013



 

This bill increases the general Minnesota estate tax exclusion from $1 million to $2 million and decreases the total amount available for the qualified small business property and farm property exclusion from $4 million to $3 million.  The estate tax filing requirement is also amended to reflect the $2 million exclusion amount.  The bill is effective for decedents dying after December 31, 2012.

Section 1 modifies the filing requirement for estate taxes from $1 million to $2 million.

Section 2 decreases the amount of the exclusion available for qualified small business property and farm property from $4 million to $3 million.

Section 3 changes the reference to the qualified small business property and farm property estate tax exclusion to reflect the $3 million maximum exclusion amount, and provides for a $2 million general estate tax exclusion.

NBP:dv  

 

 

 

 

 

 

 

 

 
Check on the status of this bill
 
Back to Senate Counsel and Research Bill Summaries page
 

 
This page is maintained by the Office of Senate Counsel, Research, and Fiscal Analysis for the Minnesota Senate.
 
Last review or update: 01/22/2013
 
If you see any errors on this page, please e-mail us at webmaster@senate.mn