Governor Dayton has signed the 2017 tax bill which will increase the Minnesota estate tax exemption from its current level of $1.8 million to $2.1 million for individuals dying in 2017. The legislation also adjusts the estate tax exemption in subsequent years; increasing the exemption by $300,000 per year until 2020 at which point the exemption would reach $3 million.
Read the article which appears at Lommen Abdo’s estate planning website, minnesotaestateplanningattorney.com.