MN SF2464

Repeals Minnesota's gift tax by eliminating sections 292.16 through 292.21 of Minnesota Statutes 2013 Supplement, effective retroactively for gifts made after June 30, 2013.

Removes chapter 292 from the definition of "Minnesota tax laws" administered by the Commissioner of Revenue in section 270B.01, subdivision 8.

Eliminates the donor as a data subject for gift tax return inspection purposes under section 270B.03, subdivision 1.

Removes references to taxable gifts made within three years of death from the definition of "Minnesota adjusted taxable estate" in section 291.005, subdivision 1.

Removes gift tax paid by decedents as a credit against Minnesota estate tax under section 291.03, subdivision 1.