MN SF4469

Increases the Minnesota estate tax exclusion amount from $3,000,000 to $4,000,000 for estates of decedents dying after December 31, 2025

Raises the threshold for requiring a Minnesota estate tax return filing from $3,000,000 to $4,000,000

Increases the maximum subtraction for qualified small business and farm property from $5,000,000 to $6,000,000

Simplifies the tax rate schedule by eliminating the 2017 rate structure and retaining only the 2018-and-thereafter rates, which range from 13% to 16% on taxable estates

Effective for estates of decedents dying after December 31, 2025