The Wall Street Journal has a good article today summarizing the presidential candidates’ positions on the estate tax. Both candidates favor portability of the estate tax exemption but differ on the rates and exemption amounts.
While changing the federal tax code to allow portability would be a good idea, its value to Minnesota residents would be limited since Minnesota is a “decoupled” state. Minnesota’s legislature would need to change the existing laws for the full effect of portability to be felt.
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