HF 3784

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to taxation; updating estate taxes to changes 
  1.3             in the Internal Revenue Code; amending Minnesota 
  1.4             Statutes 1997 Supplement, section 291.005, subdivision 
  1.5             1.  
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1997 Supplement, section 
  1.8   291.005, subdivision 1, is amended to read: 
  1.9      Subdivision 1.  Unless the context otherwise clearly 
  1.10  requires, the following terms used in this chapter shall have 
  1.11  the following meanings: 
  1.12     (1) "Federal gross estate" means the gross estate of a 
  1.13  decedent as valued and otherwise determined for federal estate 
  1.14  tax purposes by federal taxing authorities pursuant to the 
  1.15  provisions of the Internal Revenue Code. 
  1.16     (2) "Minnesota gross estate" means the federal gross estate 
  1.17  of a decedent after (a) excluding therefrom any property 
  1.18  included therein which has its situs outside Minnesota and (b) 
  1.19  including therein any property omitted from the federal gross 
  1.20  estate which is includable therein, has its situs in Minnesota, 
  1.21  and was not disclosed to federal taxing authorities.  
  1.22     (3) "Personal representative" means the executor, 
  1.23  administrator or other person appointed by the court to 
  1.24  administer and dispose of the property of the decedent.  If 
  1.25  there is no executor, administrator or other person appointed, 
  2.1   qualified, and acting within this state, then any person in 
  2.2   actual or constructive possession of any property having a situs 
  2.3   in this state which is included in the federal gross estate of 
  2.4   the decedent shall be deemed to be a personal representative to 
  2.5   the extent of the property and the Minnesota estate tax due with 
  2.6   respect to the property. 
  2.7      (4) "Resident decedent" means an individual whose domicile 
  2.8   at the time of death was in Minnesota. 
  2.9      (5) "Nonresident decedent" means an individual whose 
  2.10  domicile at the time of death was not in Minnesota. 
  2.11     (6) "Situs of property" means, with respect to real 
  2.12  property, the state or country in which it is located; with 
  2.13  respect to tangible personal property, the state or country in 
  2.14  which it was normally kept or located at the time of the 
  2.15  decedent's death; and with respect to intangible personal 
  2.16  property, the state or country in which the decedent was 
  2.17  domiciled at death. 
  2.18     (7) "Commissioner" means the commissioner of revenue or any 
  2.19  person to whom the commissioner has delegated functions under 
  2.20  this chapter. 
  2.21     (8) "Internal Revenue Code" means the United States 
  2.22  Internal Revenue Code of 1986, as amended through December 31, 
  2.23  1996, and includes the provisions of section 1(a)(4) of Public 
  2.24  Law Number 104-117 1997. 
  2.25     Sec. 2.  [EFFECTIVE DATE.] 
  2.26     Section 1 is effective at the same time federal changes 
  2.27  made by the Taxpayer Relief Act of 1997, Public Law Number 
  2.28  105-34, which are incorporated into Minnesota Statutes, chapter 
  2.29  291, by section 1 are effective for federal tax purposes.