A big change may be coming to the Minnesota estate tax. Currently, the state’s estate tax exemption is set at $1.4 million and will increase to $2 million by 2018. A House bill being considered by Minnesota lawmakers would accelerate the jump to the $2 million exemption to make it happen this year, and bump the scheduled 2018 exemption up to $5 million. Additionally, the bill would change the tax rate from a 9 to 16 percent range, to a flat 16 percent rate.
See Tim Pugmire, Minnesota Lawmakers Poised To Limit Reach Of Estate Tax, Waseca County News, Apr. 23, 2015.
