Fillable Form M706 - Estate Tax Return - 2014 (Page 2 of 2) in pdf

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 ﬁ ve 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 the front of this form . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 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: 2014

Year: 2015

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 ﬁ ve 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

Power of Attorney

You may designate 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 and check the box after your signature on the front of this form.

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 appoin-

tee 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 REV184A, Election for 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 Minne-

sota 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

Daytime phone

Fax number

Name of ﬁ rm (if applicable)

Address (street, apartment, route)

Expiration date (If a date is not provided, this power

of attorney is valid until revoked in writing):

City

State

Zip code

Check this box to revoke all powers of attorney previously ﬁ led by