MN HF2652

Amends Minnesota Statutes section 290.01, subdivision 19a to conform state tax law to changes in the federal Internal Revenue Code regarding additions to taxable income for individuals, estates, and trusts.

Modifies clause (21) to change the effective date from January 1, 2013 to January 1, 2012 for the difference between the standard deduction allowed under current federal law versus the 2011-2012 standard deduction.

Requires the Commissioner of Revenue to calculate and issue refunds for tax year 2011 to taxpayers who overpaid due to the standard deduction changes, including standard deduction filers, itemizers, and marriage credit recipients.

Commissioner must remit all refunds by December 31, 2013.

Effective date is the day following final enactment.