(a) The estate of a nonresident decedent that is subject to tax under this chapter on the value of Minnesota situs property held in a pass-through entity is allowed a credit against the tax due under section 291.03 equal to the lesser of:
(1) the amount of estate or inheritance tax paid to another state that is attributable to the Minnesota situs property held in the pass-through entity; or
(2) the amount of tax due under section 291.03 attributable to the Minnesota situs property held in the pass-through entity.
(b) The amount of tax attributable to the Minnesota situs property held in the pass-through entity must be determined by the increase in the estate or inheritance tax that results from including the market value of the property in the estate or treating the value as a taxable inheritance to the recipient of the property.
2014 c 150 art 3 s 7; 2014 c 308 art 4 s 19; 2016 c 158 art 1 s 161
Structure Minnesota Statutes
Chapters 289A - 295 — Various State Taxes And Programs
Section 291.005 — Definitions.
Section 291.016 — Minnesota Taxable Estate.
Section 291.075 — Special Use Valuation Of Qualified Property.
Section 291.12 — Collection Of Tax By Representative Or Trustee.
Section 291.13 — Taxes To Be Paid To Commissioner Of Revenue.
Section 291.16 — Power Of Sale.
Section 291.21 — Letters Of Administration.