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Estate Tax Law Change For Non-Residents

As of July 1, 2013 non-residents who own an interest in a Partnership, LLC, or an S-Corporation that owns tangible personal property or real estate in Minnesota will now be subject Minnesota estate tax. This new provision is retroactive with an effective date of January 1, 2013.

For more information about the tax changes visit our Hot Topics Page: http://joneslawmn.com/

 

Jeremy J. Nauman, Attorney

Estate Tax Change

Minnesota will continue to not impose any estate taxes for estates not exceeding $1,000,000.00. As of July 1, 2013, Minnesota will have a three year look back from the date of death that will add taxable gifts made after June 30, 2013 back into your estate.

 

For more informationabout thetax changes visit: http://joneslawmn.com/topics/

 

Jeremy J. Nauman, Attorney

 

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