MN SF3376

Removes certain additions to Minnesota state taxable income including deductions for qualified tuition expenses, elementary and secondary school teacher expenses, property tax deductions, and motor vehicle sales tax deductions.

Eliminates the requirement to add back 80 percent of depreciation deductions under Internal Revenue Code section 168(k) and 80 percent of section 179 deductions in excess of 1986 amounts.

Removes the addition for the exclusion of federal subsidies for prescription drug plans under section 139A of the Internal Revenue Code.

Renumbers remaining income tax addition categories to reflect deletions, effective for taxable years beginning after December 31, 2009.

Updates income tax rate schedules and alternative minimum tax definitions to reference the revised addition clause numbers throughout Minnesota Statutes sections 290.06, 290.091, and 290A.03.