Section 293.01 — Tax On Income Reserved To Donor In Conveyance To Educational Institution.
293.01 TAX ON INCOME RESERVED TO DONOR IN CONVEYANCE TO EDUCATIONAL INSTITUTION. When real property shall be conveyed to any educational institution in the state which has or claims to possess the right or privilege of exemption from taxation under or by virtue of the provisions contained in a territorial charter where such property is […]
Section 293.02 — Person.
293.02 PERSON. For all purposes of this chapter, the word “person” shall be construed to include individuals, copartnerships, associations, companies, and corporations. History: (2394-92) Ex1937 c 91 s 2
Section 293.03 — Place Of Taxation; Lien.
293.03 PLACE OF TAXATION; LIEN. Such annuity or income shall have a taxable status in the assessment district wherein is located the real property conveyed under the terms and conditions set forth in section 293.01, and the tax herein provided shall be a specific lien upon all and singular the amounts as they accrue, which […]
Section 293.04 — Annual Report By Taxpayer.
293.04 ANNUAL REPORT BY TAXPAYER. Every person to whom any such annuity or income payments are made or reserved shall, annually, on or before the first day of February, make and file with the commissioner of revenue a report, verified by the person making the same, setting forth the amount of income or annuity received […]
Section 291.03 — Rates.
291.03 RATES. Subdivision 1. Tax amount. The tax imposed must be computed by applying to the Minnesota taxable estate the following schedule of rates and then the resulting amount multiplied by a fraction, not greater than one, the numerator of which is the value of the Minnesota gross estate plus the value of gifts under […]
Section 291.031 — Credit.
291.031 CREDIT. (a) The estate of a nonresident decedent that is subject to tax under this chapter on the value of Minnesota situs property held in a pass-through entity is allowed a credit against the tax due under section 291.03 equal to the lesser of: (1) the amount of estate or inheritance tax paid to […]
Section 291.075 — Special Use Valuation Of Qualified Property.
291.075 SPECIAL USE VALUATION OF QUALIFIED PROPERTY. If, after the final determination of the tax imposed by this chapter, the property valued pursuant to section 2032A of the Internal Revenue Code is disposed of or fails to qualify and an additional tax is imposed pursuant to section 2032A(c), any increase in federal gross or taxable […]
Section 290C.101 — Transfer Of Ownership.
290C.101 TRANSFER OF OWNERSHIP. Subdivision 1. Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) “New owner” means a prospective purchaser or grantee. (c) “Owner” means a grantor or seller. Subd. 2. Notification to commissioner. (a) An owner must notify the commissioner if the owner transfers any or all […]
Section 290C.11 — Penalties For Removal.
290C.11 PENALTIES FOR REMOVAL. (a) If the commissioner determines that land enrolled in the sustainable forest incentive program is in violation of the conditions for enrollment as specified in section 290C.03, or upon notification by the commissioner of natural resources that land enrolled is in violation of the conditions for enrollment, the commissioner shall notify […]
Section 290C.12 — Death Of Claimant.
290C.12 DEATH OF CLAIMANT. Within one year after the death of the claimant, the claimant’s heir, devisee, or estate must either: (1) notify the commissioner of election to terminate enrollment in the sustainable forest incentive program; or (2) make an application under this chapter to continue enrollment of the land in the program. Upon notification […]