Heartlander Magazine reports that the Minnesota House of Representatives has approved an omnibus tax bill that proposes gradually raising the minimum threshold of wealth subject to the state’s estate tax, phased in over a three-year period. By 2018, the estate tax will apply only to estates larger than $5 million.Under current Minnesota law, all estates larger than $2 million are subject to the state’s estate tax.

Read full article at: Minnesota House Passes Death Tax Reform | Heartlander Magazine

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.