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Gift Tax and Taxable Gifts

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Gift Tax is a tax on the transfer of property by one individual to another while receiving nothing, or less than the full value, in return. Certain taxable gifts are included in the Estate Tax.  

Estate Taxable Gifts  

You must add any federal adjusted taxable gifts made within three years of the decedent’s death to the federal gross estate when determining if the estate meets Minnesota’s filing requirement. 

You must add any Minnesota taxable gifts made after June 30, 2013, and within three years of the decedent’s death, to the Minnesota adjusted taxable estate when calculating the Minnesota estate tax. 

Estate Gift Tax  

Minnesota Gift Tax was repealed in 2014.  

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