MN SF953

Establishes a 10-year phaseout of Minnesota's estate tax beginning July 1, 2025, and ending June 30, 2034

Reduces estate tax rates by 1.6 percentage points annually until all rates reach zero (current rates range from 13% to 16% depending on estate value)

Applies to estates of decedents dying after June 30, 2025

Current law taxes estates exceeding $3 million (exclusion amount) with graduated rates up to 16% for estates over $10.1 million

Amends Minnesota Statutes section 291.03, subdivision 1