The Wealth & Wisdom Blog

Under federal income tax law, a capital gains income tax is imposed on the difference between the price for which an investment is sold and the price for which the investment was originally purchased. For example, if Joe purchases a stock for $10, then sells it at $110, Joe will owe a capital gains tax […]

Minnesota imposes a state-level estate tax on assets when a Minnesota resident, or a non-resident holding property located in MN, dies with assets in excess of the exemption amount.  The exemption amount is currently $3.0M.