This bill proposes the repeal of the estate tax in Minnesota, accompanied by several amendments to existing statutes to align with this change. Key deletions include references to the estate tax in various sections of Minnesota Statutes, such as sections 270B, 289A, and 291. The bill introduces new language that specifies the effective date for these changes, which will apply to estates of decedents dying after December 31, 2025. Additionally, the bill modifies provisions related to tax data classification, the definition of Minnesota tax laws, and taxpayer rights regarding refunds, ensuring that estate tax considerations are removed from the state's tax framework.

The bill also addresses the apportionment of estate taxes and generation-skipping taxes, establishing that these taxes will be apportioned according to federal law, with specific guidelines for cases lacking federal guidance. It clarifies the payment process for estate taxes, including the prohibition of extra fees for mail payments and the commissioner’s authority to extend payment periods. Furthermore, the bill outlines criteria for qualified small business and farm properties, introduces a recapture tax for certain disposals, and clarifies the responsibilities of representatives and trustees in tax collection. Overall, the bill aims to streamline the estate tax process, ensuring clarity and equity in the treatment of various property types while aligning with federal regulations.

Statutes affected:
Introduction: 13.4963, 270B.01, 270B.03, 289A.01, 289A.02, 289A.35, 289A.38, 289A.50, 289A.56, 354A.11, 356.401, 524.3