Minnesota Estate Tax Return

Estate Tax Return
2024 M706, Estate Tax Return
*246251*

2024 Form M706, Estate Tax Return	

Check box if amended return
(Attach an explanation of change)

For estates of a decedent whose date of death is in calendar year 2024 			
Decedent’s First Name, Middle Initial 	

Last Name		

Decedent’s Social Security Number

/

Last Home Address			

/

Date of Death (MM/DD/YYYY)

City	

State	

ZIP Code	

Executor’s first name, middle initial	

Executor’s Last Name	

Decedent’s Estate or Trust EIN

Executor’s Social Security Number

Name of Firm (If Applicable)		

Executor’s Phone

Address	

State	

City	

If filing under a federal filing extension, enter the extended due date (MM/DD/YYYY) (attach IRS approval):

/

ZIP Code	

/

(MM/DD/YYYY)

Check if:
	 You are electing the qualified small business property deduction	

	 You are electing the qualified farm property deduction

	 You received an extension for paying tax	

	 The decedent was a nonresident

Round amounts to the nearest whole dollar.

	 You are filing a Tax Position Disclosure (enclose Form TPD)

	1	 Federal tentative taxable estate (from federal Form 706 line (3)(a)) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 1	
	2	 a	Federal taxable gifts (from federal Form 706 line 4)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 2a	
		 b	 Portion of line 2a made within three years of death  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 2b	
	3	 Any deduction taken for death taxes paid to a foreign country (from federal Form 706, Schedule K)  .  .  .  .  .  .  .  .  . 3	
	 4	 Minnesota-Only QTIP property allowed on previously deceased spouse’s estate tax return  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 4	
	 5	 Add lines 1, 2b, 3, and 4 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 5	
	6a    	Minnesota 2024 estate tax exclusion .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 6a	
	 6b    	Enter the total value of any deduction for qualified small business
	 	 property or qualified farm property on Schedules M706Q, part 7, line 8 (Attach Schedule M706Q) .  .  .  .  .  .  .  .  .  . 6b	
	 7	 Minnesota-Only QTIP Property. Enter the amount from Worksheet A (on page 3 of this form) .  .  .  .  .  .  .  .  .  .  .  .  .  . 7	
	 8	 Add lines 6a, 6b, and 7 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 8	
	9	 Subtract line 8 from line 5. This is your Minnesota taxable estate. If result is zero or less, leave blank .  .  .  .  .  .  .  . 9	
	10	 Determine value by applying the amount on line 9 to the 2024 rate table in the instructions.  .  .  .  .  .  .  .  .  .  .  .  .  .  . 10	
	11	 Multiply line 10 by the amount calculated on Worksheet B, step 7, on page 3 of this form .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 11	
	12	 Nonresident decedent tax credit (determine from instructions, page 6) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 12	
	13	 Minnesota estate tax (subtract line 12 from line 11). If result is zero or less, leave blank .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 13	
	14	 Total payments, including any extension payments, made prior to filing this return .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 14	

9995

3,000,000

M706 2024, page 2
	15	 Subtract line 14 from line 13.  If negative number, use a minus sign (-) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 15
	 16	 Penalties (determine from instructions page 6) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 16
	17	 Interest, if any, from :

(complete worksheet on page 3 of this form)17

to:

	18	 AMOUNT DUE. Add lines 15, 16, and 17. If result is zero or less, leave blank .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 18
		 Check payment method:    	
Check (attach payment voucher)	
Electronic
				
	19	 REFUND. If your total payments are more than the sum of Minnesota estate tax, penalty
	 	 and interest, subtract the amounts on lines 13, 16, and 17 from line 14  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 19	
	20	 To have your refund direct deposited, enter the following. Otherwise, you will receive a check.
Checking

Savings

Routing number	

Account number (must be an account not associated with any foreign bank)

I declare that this return is correct and complete to the best of my knowledge and belief.	

/

/

/

/

Signature of Executor	
Date (MM/DD/YYYY)	
Executor’s Phone	
			
Signature of Executor 	

Date (MM/DD/YYYY)	

Signature of Preparer, Other than Executor	

/

Signature of Executor	

	

PTIN	

/

Date (MM/DD/YYYY)

/

/

Date (MM/DD/YYYY)	

Daytime phone

You must attach a copy of the federal Form 706, required schedules, death certificate and all supporting documentation.
Mail to: Minnesota Estate Tax, Mail Station 1315, 600 N. Robert St., St. Paul, MN 55146-1315

Power of Attorney
You may authorize another person to act on your behalf or perform any act you can perform with respect to the Minnesota taxes of the decedent’s estate when dealing
with the department. To designate power of attorney, provide the information below.
To appoint multiple POAs, attach a separate piece of paper with the information below. The additional appointees must have the same authority as the primary appointee. Only the primary appointee can receive all correspondence.
Note: The department does not send tax refunds to the designated appointee unless you make an election in writing. It is your responsibility to keep your appointee
informed of your tax matters. If you want the department to send any and all notices, including tax refunds, directly to your appointee rather than you, attach Form
Form REV 184i, Individual or Sole Proprietor Power of Attorney, to this form.
I, the executor (personal representative) of the decedent’s estate, appoint the person named below as Attorney-in-Fact to represent the estate before the Minnesota Department of Revenue. The appointee is authorized to provide and receive private and nonpublic information regarding the Minnesota taxes of the estate, and to perform
any and all acts that I can perform with regard to the state taxes of the estate, unless noted below.

Name of person (appointee) given power of attorney	
Address	

	

City	

State	

	
	
Zip code	

Direct phone	
	

Fax number
	

Suite/Apartment Number

Expiration date (If a date is not provided, this powerof attorney is valid until revoked in writing)

	

	Check this box to revoke all powers of attorney previously filed by you in connection with the Minnesota taxes of the decedent’s estate.             

	

I am excluding the following powers (please list):

9995

M706 2024, page 3
Worksheets
Worksheet A - To Determine Line 7
1	 Description of Minnesota-Only QTIP property

Value 	$

2	 Total from continuation schedules .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 2	
3	 Total amount of Minnesota-Only QTIP Property. Enter the amount here and on line 7 of Form M706  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 3	

Worksheet B - To Determine Line 11
1	

Minnesota gross estate (see instructions)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 1	

2	

Value of gifts included on Line 2b from page 1 of Minnesota Form M706 with a Minnesota situs (see instructions) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 2	

3	

Add steps 1 and 2  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 3	

4	

Federal gross estate (from Federal Form 706, line 1) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 4	

5	

Total value of all gifts reported on Line 2b from page 1 of Form M706 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 5	

6	

Add steps 4 and 5  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 6	

7	

Divide step 3 by step 6 (round to five decimal places) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 7	

Worksheet C - to determine interest on Line 17

Interest accrues on any unpaid tax and penalty beginning nine months from the decedent’s date of death.
1	

Amount of tax not paid within nine months after the decedent’s date of death  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 1	

2	

Unpaid penalty, if any, from line 16 on page 2 of Form M706 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 2	

3	

Unpaid tax and penalty on which interest will accrue (add step 1 and step 2)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 3	

4	

Number of days that your payment of tax and/or penalty is late.	
     Year: 2024	
If the days fall in more than one calendar year, you must
determine the number of days separately for each year  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 4	

5	

Divide step 4 by 366 for 2024 or 365 for 2025. Round the result to five decimal places  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 5	

6	

Multiply step 3 by the result in step 5 for each year  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 6	

7	

Interest rate in effect for the calendar year  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 7	

8	

Multiply step 6 by the interest rate in step 7 for each year .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 8	

9	

Add the amounts in step 8. Also enter the result on line 17 of Form M706  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 9	

9995

Year: 2025

.	.
	

8%		

8%