MN SF1221

Allows a surviving spouse to claim a deceased spouse's unused Minnesota estate tax exclusion amount through a portability election on the estate tax return, effective for estates of decedents dying after June 30, 2022.

Establishes a deceased spousal unused exclusion amount equal to the lesser of $3,000,000 or the excess of $3,000,000 over the predeceased spouse's Minnesota taxable estate (excluding qualified farm and small business property).

Requires the personal representative to file a Minnesota estate tax return and make an affirmative, irrevocable portability election for the surviving spouse to claim the deceased spouse's unused exclusion amount.

Adds portability election provisions to the Minnesota estate tax return requirements and allows the Commissioner of Revenue to prescribe the form of the election.

Makes technical amendments to align Minnesota estate tax return thresholds with existing exclusion amounts and tax rate schedules for decedents dying in 2017 and thereafter.