Estate Tax Treatment of Out-of-State Real Estate
Monday, September 16, 2024
Posted by: BEPC Office
In a recently passed bill, the Massachusetts Legislature conclusively defined the Massachusetts taxable estate as excluding real property and tangible personal property located outside the Commonwealth of Massachusetts. This bill was signed by Governor Healey into law on September 16, 2024. Prior to the passage of this amendment, there was some confusion as to whether practitioners needed to prorate the state death tax credit for the portion of the estate attributable to real property located outside of Massachusetts or whether we could rely on Dassori v. Commissioner of Revenue which had previously excluded real property held outside the country from MA estate tax. Additional detail can be found within Section 13 of Chapter 206 of the Acts of 2024.
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