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Senate Counsel, Research and Fiscal Analysis
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Minnesota Senate Bldg.
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95 University Avenue W. Suite 3300
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St. Paul, MN 55155
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(651) 296-4791
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Alexis C. Stangl
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Director
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Senate
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State of Minnesota
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S.F. No. 457 - Modifying Definition of Resident
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Author:
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Senator Roger C. Chamberlain
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Prepared By:
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Nora Pollock, Senate Counsel (651/297-8066)
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Date:
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February 14, 2017
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This bill modifies the statutory domicile test under the individual income tax and modifies the domicile test for purposes of the estate tax.
Section
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Provision
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1
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Modifies the domicile test so that the Department of Revenue or a court, in determining where the individual intends his or her permanent home, cannot consider the location of the individual’s attorney, certified public accountant, or financial advisor and the place of business of a financial institution where the individual opened or maintains an account. Defines “financial advisor” and “financial institution.” Effective beginning in tax year 2017.
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2
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Applies the provisions relating to the location of an individual’s attorney, certified public accountant, or financial advisor and the place of business of a financial institution where the individual opened or maintains an account to the estate tax chapter for purposes of determining domicile of a decedent. Effective for estates of decedents dying in 2017 and after.
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Check on the status of this bill
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Last review or update: 02/14/2017
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