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Minnesota Statutes Various State Taxes and Programs (Ch. 289A-295) § 291.215. Valuation of estate

Current as of January 01, 2025 | Updated by Findlaw Staff

Subdivision 1. Determination. All property includable in the Minnesota gross estate of a decedent shall be valued in accordance with the provisions of sections 2031 or 2032 and, if applicable,2032A, of the Internal Revenue Code 1and any elections made in valuing the federal gross estate shall be applicable in valuing the Minnesota gross estate. The value of all property includable in the Minnesota gross estate of a decedent may be independently determined under those sections for Minnesota estate tax purposes except:

(1) as otherwise provided insection 291.075; or

(2) if the Internal Revenue Service, after receiving the estate's federal estate tax return, either conducts a separate appraisal of an asset reported on the return or proposes a change in the reported valuation of an asset in the estate, in which case the federal final determination of the value controls.

Subds. 2, 3. Repealed byLaws 1990, c. 480, art. 1, § 45, eff. Aug. 1, 1990.

1 26 U.S.C.A. §§ 2031,2032,2032A.
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Cite this article: FindLaw.com - Minnesota Statutes Various State Taxes and Programs (Ch. 289A-295) § 291.215. Valuation of estate - last updated January 01, 2025 | https://codes.findlaw.com/mn/various-state-taxes-and-programs-ch-289a-295/mn-st-sect-291-215/

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