MN SF1271

Allows surviving spouses to use their deceased spouse's unused estate tax exclusion amount (up to $3,000,000) when calculating Minnesota estate taxes, effective for decedents dying after December 31, 2024

Personal representatives filing estate tax returns are automatically deemed to have elected portability unless they affirmatively opt out on the return; the election is irrevocable

Permits estates not required to file a return to voluntarily file one solely to preserve the deceased spousal unused exclusion amount for the surviving spouse

Maintains the $3,000,000 base exclusion amount and the $2,000,000 cap on combined qualified small business and farm property subtractions

Removes obsolete provisions referencing historical exclusion amounts from 2014-2019 and consolidates the estate tax rate schedule to the 2018-and-thereafter rates (13-16%)