FINAL DRAFT — 8/19/24

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2024 Form M706, Estate Tax Return 
                                                                                                                                                                                 Check box if amended return   
For estates of a decedent whose date of death is in calendar year 2024                                                                                                                (Attach an explanation of change)
 
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                Decedent’s Estate or Trust EIN

Executor’s first name, middle initial                                                                                        Executor’s Last Name                     Executor’s Social Security Number

Name of Firm (If Applicable)                                                                                                                                          Executor’s Phone

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

                 You are filing a Tax Position Disclosure (enclose Form TPD)                                                                                                   Round amounts to the nearest whole dollar.

  1Federal         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 countryforeign                                                                     (from federal Form 706, Schedule K)  .  . . . . . .  .  .    3

 4  Minnesota-Only propertyQTIP 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                                                                         3,000,000
 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 

 7Minnesota-Only        Property.QTIP Enter the amount Worksheetfrom    A                                                                     (on page 3 of this form)   .  . . . . . .  . . . . . .  .    7

 8Add lines 6a,    6b, and 7                                                                . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  .    8

  9  Subtract line 8 from line 5. This is your Minnesota taxable estate. If result or zero leaveless, is 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 
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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, any,if        : from                  to:                       (complete worksheet on page 3 of this form)   17

  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 Executor                                                                       Date (MM/DD/YYYY)
                                                                                                      /         /
Signature of Preparer, Other than Executor                                     PTIN                   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 appoin-
tee. 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 De-
partment 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                            Direct phone                                                                                  Fax number

Address                                                                                                                                                                     Suite/Apartment Number

City                                 State          Zip code                  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):

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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 of 7 M706 Form on line                             .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  .  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  Federalgross 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, any,if                 16 line pageon from               Form 2 M706of               . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  .    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                                                                                                                      Year: 2025
          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 365. 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 effectin                          for the calendar year                      . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  .  7                                                           x%                    8%                                       
 
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 

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